Exclusive | Mark Wallace: Seizure of Over 500,000 Barrels of Iranian Oil; Funds to Benefit Terror Victims

The United Against Nuclear Iran (UANI) organization praised the seizure of over 500,000 barrels of Iranian oil by the U.S. Department of Justice in a statement released on Tuesday, February 6. The organization estimated the value of the seized oil at $25 million, adding that this amount was 'revenue' that, if not confiscated by the Department of Justice, would have been used 'to support the malign behavior of the regime,' the Revolutionary Guards, and proxy forces. According to the statement, since March 2023, UANI had collected information and evidence showing that the oil barrels were loaded from the port of Mahshahr by a tanker named 'Abias' flying the flag of Palau and were headed to the Pacific region. Subsequently, in the Pacific, this tanker came under the ownership of the shipping company 'Yuranau.' Mark Wallace, the executive director of UANI, in an exclusive interview with Voice of America, provided further details about this news, stating that the Department of Justice had announced sanctions against various Iranian and Turkish individuals involved in the smuggling of Iranian oil. In response to a question from the Voice of America reporter about how they track tankers specifically smuggling oil from Iran, he said, 'We have a tanker tracking team, and we try to track each tanker associated with Iran.' He added that last year, after identifying the Abias tanker carrying smuggled barrels, 'we immediately contacted the Yuranau tankers and requested an investigation.' Wallace explained that 'after receiving our letter and request, the Yuranau operators conducted investigations based on satellite data that sends ship tracking data, and the Department of Justice acted based on this activity.' He further elaborated that currently, under the management of the Department of Justice, the seized oil has been transferred to Long Beach, New York, 'where it was loaded and sold for the benefit of terror victims.' Regarding the revenue generated from the sale of this seized Iranian oil, Wallace emphasized that 'when this oil is seized, it does not just go to the United States.' This legal expert added, 'A special fund has been established in the United States, where any oil or other assets of Iran sold in any sea will benefit the victims of Iranian terrorism and other countries.' Wallace stressed, 'Therefore, we are using this oil for the benefit of the victims of this regime.' The executive director of UANI emphasized that this seizure is very significant, adding that 'we can do much more to enforce sanctions in international waters.' Wallace, who is a lawyer with a long history in business, stated that this level of sanctions enforcement seems insufficient and mentioned that he is aware that 'over 360 ships in international waters are primarily smuggling Iranian oil to immediate refineries in China.' The organization also announced in its statement that over one million barrels of Iranian oil are exported daily to China, and ships, owners, and operators facilitating the evasion of Iranian sanctions—including in the maritime industry—and buyers of illegal shipments have been warned that they must be held accountable and that shipments must be seized. UANI warned that it is tracking all tankers exporting Iranian oil using satellite imagery and is urging relevant maritime actors to cancel their services to these ships and inform the appropriate authorities.