Subscriber Only
economics
U.S. Issues Sanctions on Iran-Linked Currency Exchange Network
By-
Nine Iranian citizens and companies targeted by U.S. Treasury
-
Network said to transfer millions of dollars to Quds Force
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 U.S. dollars to Iran’s Islamic Revolutionary Guards Corps-Quds Force, the Treasury Department said.
The central bank “actively supported" the arrangement, which involved currency transfers from Iran to the United Arab Emirates, according to a Treasury statement issued Thursday evening. The U.A.E. joined the U.S. to disrupt the currency exchange network.
