US imposes sanctions on Turkish businessman for selling Iranian oil

US President Joe Biden’s administration imposed sanctions on prominent Turkish businessman Sitki Ayan and his network of companies, on charges of facilitating the sale of oil and money laundering for the Iranian Revolutionary Guard Quds Force.

In a statement, US Treasury Department on Thursday announced, that Ayan companies entered into international contracts for the sale of Iranian oil, arranged shipments, helped launder proceeds, and concealed the source of Iranian oil.

According to the Treasury Department, the Ayan companies were preparing commercial contracts for the sale of hundreds of millions of dollars worth of Iranian oil to buyers in China, UAE and Europe, noting that the Turkish businessman later transferred these revenues to the Quds Force.

The new US sanctions also target Ayan’s son Bahaddin Ayan, his associate Kasim Oztas and two other Turkish citizens involved in his business network are also designated, along with 26 companies including his ASB Group of Companies, a Gibraltar-based holding company and a vessel.

According to these sanctions, the assets of these people and companies in America are blocked and American citizens are prevented from trading with them.

Earlier, in a report referring to Ayan’s ties to the Iranian Revolutionary Guards, Politico magazine described him as the number one person in the largest financial network of the Quds Force in Turkey.

The new US sanctions on Turkey come at a time of tense relations between the two countries due to Washington’s criticism of Turkey’s attacks on Syria and its purchase of Russian air defenses.

Who is Sıtkı Ayan?

Born and raised in the Golova town of Sivas, Sıtkı Ayan studied at Istanbul Imam Hatip High School and graduated from Ankara University, Faculty of Theology. 

Later, Ayan entered the oil business and made investments in oil and natural gas fields in Iran and Sudan.