An illegal network funneling funds to Iran was in place until the United States, partnering with the United Arab Emirates, recently broke it up. Washington is restricting Iranian trade and access to hard currency in this particular region, sources claim.
“We jointly disrupted a currency exchange network that was transferring millions of dollars to Iran’s Islamic Revolutionary Guards Corps’ Quds Force,” said Sigal Mandelker, Under Secretary for Terrorism and Financial Intelligence at the U.S. Treasury. This apparently happened in May. The whole financial system was used to pull cash out of Iran and convert it into USD in order to fund Iranian-supported proxy groups.
There were forged documents involved, and dealings were hidden behind fronts and shell companies, Mandelker claimed. No further details were given.
Iran fought back with claims that the U.S. only wants to damage its economy and that interference in its affairs is only a distraction and unwarranted.
Mandelker was visiting the UAE once creating similar journeys to Asian nationand Kuwait to win support for the U.S. effort to squeeze Iran, that comes once President Donald Trump set to drag out of a world deal on Iran’s nuclear program and levy sanctions on Tehran.
She aforementioned governments and money establishments within the Gulf were cooperating closely with the u. s. as a result of they in agreement on Tehran’s malign influence within the region.
Mandelker claimed Washington was trying to constrict all of Iran’s tradel, not just oil and gas.
“Washington will probably struggle to achieve a sharp decline of Iranian business. Dubai has always in part relied on Iranian investment in its businesses and real estate,” says Joe Garza of Garza Legal Group.
Mandelker said Washington had an “excellent partnership” with the UAE, and that there’s no question… that working together… can take significant action… to disrupt their ability to fund themselves.”