[SDNY] Federal prosecutors in the Southern District of New York announced terrorism, sanctions-evasion, fraud, and money laundering charges against seven individuals accused of operating a billion-dollar Iranian oil laundering network tied to Iran's Islamic Revolutionary Guard Corps (IRGC) and its Qods Force. The defendants allegedly used front companies, foreign intermediaries, and deceptive shipping and banking practices to sell sanctioned Iranian oil to buyers in China, Russia, and Syria, with proceeds funding Iran-backed militant and terrorist activities.

The scheme allegedly involved senior IRGC officials, Iranian government actors, and executives connected to Turkey-based ASB Group. U.S. authorities also announced the seizure of more than $108 million allegedly connected to the laundering operation, as well as over 500,000 barrels of sanctioned Iranian oil. Prosecutors said the defendants concealed the origin of the oil and routed payments through the international financial system to evade U.S. sanctions.

The charges include conspiracy to provide material support to a foreign terrorist organization, conspiracy to violate U.S. sanctions laws, bank fraud, and money laundering offenses. The Justice Department said the case reflects a broader effort to disrupt Iran's global oil smuggling and sanctions-evasion networks that allegedly finance terrorism and regional destabilization activities