US, UAE crack down on Iran Revolutionary Guard’s finances
The US imposed sanctions on Thursday against six individuals and three companies it said were funneling millions of dollars to Iran’s Islamic Revolutionary Guard’s elite Quds Force, just days after President Donald Trump withdrew from the 2015 Iran nuclear deal.
The treasury department, acting with the UAE where front companies were located, said it had disrupted the large network’s operations, and accused Iran’s central bank of helping the group access US dollars held in foreign banks to sidestep Western sanctions.
“The Iranian regime and its central bank have abused access to entities in the UAE to acquire US dollars to fund the IRGC-QF’s malign activities, including to fund and arm its regional proxy groups, by concealing the purpose for which the US dollars were acquired,” treasury secretary Steven Mnuchin said.
The IRGC is by far Iran’s most powerful security entity and has control over large stakes in Iran’s economy and huge influence in its political system.
The Quds Force is an elite unit in charge of the IRGC’s overseas operations.
The six individuals and three entities, including front companies for the IRGC-QF and currency traders, were sanctioned under US regulations targeting specially designated global terrorist suspects and Iranian financial activity, the treasury said.
The crackdown comes as US secretary of state Mike Pompeo pushes allies in Europe, Asia and the Middle East to pressure Iran to return to negotiations over its nuclear and missile programmes.
Trump’s decision has given grace periods of 90 days to six months for firm to wind down their trade with Iran. REUTERS
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