According to a press release by the US Treasury Department, the US will sanction nine Russians and one entity in its new round of Iran-related sanctions.

In its release, the Department said on Wednesday that it will sanction what it alleged is an international oil smuggling network led by IRGC officials in the Quds Force "that has facilitated the sale of hundreds of millions of dollars’ worth of Iranian oil for both the IRGC-QF and Hezbollah."

The Treasury claims that the network is led by a Quds Force official named Behnam Shahriyari and a former Quds Force official called Rostam Ghasemi, "and backed by senior levels of the Russian government." Furthermore, it claims the network acted "as a critical element of Iran’s oil revenue generation."

Russia and Iran discussing joint projects, energy swaps

Russia's Deputy Prime Minister Alexander Novak announced on Wednesday that Russia and Iran discussed swapping energy supplies, and increasing investments in oil and gas projects in Iran.

"We discussed in detail issues related to swap supplies of gas and oil and increasing joint investments in the implementation of oil and gas projects," Novak said. 

Both countries have also agreed to switch to settling payments in national currencies "as much as possible" and discussed the possibility of using Shetab and Mir payment cards.