Sanctions on exchange US says is funding ISIS
The US Department of Treasury yesterday imposed sanctions against an Iraqi financial exchange company suspected of having ties with ISIS.
Afaq Dubai, in Iraq, was added to the Treasury’s list of specially designated global terrorists for “assisting, sponsoring or providing financial, material or technical support” for ISIS.
The exchange does not have any branches in the UAE.
“It is a part of ISIS’s complex network of money services businesses and financial facilitators funding terrorism across the Middle East,” said Sigal Mandelker, the Treasury Under Secretary for Terrorism and Financial Intelligence.
Washington and the Department of Defence are targeting this network as part of President Donald Trump’s campaign to cut off the group’s ability to launder money and move illicit funds, Ms Mandelker said.
“Even as ISIS’s hold on territory is eliminated, we will continue to search for and shut down the illicit financial network ISIS utilises to fund terror attacks and sustain operations,” she said.
Afaq Dubai is run by two ISIS financiers and as of early this year, laundered money for the group and provided money to their families, the Treasury said.
The development follows a Pentagon decision on October 11 to go after a financial group supporting ISIS. In September, the department took action against the terrorist group’s financial facilitators that have ties in the Caribbean and the Middle East.
It comes as the US leads an ongoing anti-ISIS operation in Iraq and Syria. Nearly all of the territory that the group once controlled has been liberated.
Although Baghdad declared victory over the insurgents in December, ISIS fighters have since waged a campaign of kidnapping and killings around the country.
Gen Joseph Dunford, Chairman of the Joint Chiefs of Staff, said on Tuesday that the conditions that gave rise to terrorists still linger in the country.
“Challenges remain in our political, our military, our intelligence, and our law enforcement co-operation despite the fact that we’ve had some positive trends and co-operation,” Gen Dunford said.
“Clearly, there is much more to be done.”
Last week, the Joint Task Force of the US coalition and Iraqi Special Forces arrested 10 suspected ISIS members who provide funding to insurgents in Baghdad and the northern city of Erbil.
“The arrests deal a major blow to ISIS’s capacity to threaten and terrorise civilians,” said Maj Gen Patrick Roberson, commander of Operation Inherent Resolve.
Raids were carried out from October 7 for two days, leading to the arrest of the suspected members of the Al Raqi network, which operates as a “financial facilitation group” for the militants, the coalition said.
“This demonstrates that those who assist, sponsor, or provide financial, material or technological support to ISIS will face severe consequences,” Maj Gen Roberson said.
Meanwhile, Iraqi President Barham Salih condemned foreign interference in the country.
Mr Salih called on the international community to not “burden” Iraq with regional tensions.
He said the country is pivotal to the region’s stability.
Speaking to ambassadors from neighbouring states, the president stressed the need to develop constructive relations “in a way that serves the common interests of their citizens”.
“The country is entering a new stage as it tries to form a strong and sufficient government,” he said.