UAE puts nine Iranian people and entities on terrorism list

The UAE Cabinet said it has issued Ministerial Resolution No 24 for 2018 designating the entities and individuals on its list of terrorists and terror organisations.

The US has imposed sanctions against six people and three companies it said were funnelling millions of dollars to an elite force within Iran's Revolutionary Guard.

The Treasury Department said it was acting with the United Arab Emirates to disrupt the network and accused Iran's central bank of actively helping the group to access USA dollars held in foreign bank.

Mr Mnuchin also lauded the UAE's role, saying "the Treasury Department thanks the UAE for its close collaboration on this matter".

Treasury's Office of Foreign Assets Control blacklisted nine Iranian entities - six individuals and three firms - involved in an illegal currency-exchange network in the United Arab Emirates.

Trump triggered worldwide condemnation late Tuesday, when he announced that the United States was walking away from the Iran nuclear accord, which is officially known as the Joint Comprehensive Plan of Action (JCPOA).

The Trump administration sanctioned nine Iranian citizens and companies on Thursday for allegedly operating a currency exchange network that - with the help of Iran's Central Bank - transferred millions of USA dollars to Iran's Islamic Revolutionary Guards Corps-Quds Force, the Treasury Department said. Iran's Central Bank is said to have been "complicit in the IRGC-QF's scheme and actively supported this network's currency conversion and enabled its access to funds that it held in its foreign bank accounts". Treasury Secretary, Steven Mnuchin said in a statement that the penalties targeted those who had funnelled millions of dollars to Iran's military.

Trump's decision has given grace periods of 90 days to six months for companies to wind down their trade with Iran.

In February 2015, the news agency Reuters reported that at least $1 billion (€840 million) in cash had been smuggled into Iran despite USA and other sanctions.

Vanessa Coleman