Economics
U.S. Issues Sanctions on Iran-Linked Currency Exchange Network
- Nine Iranian citizens and companies targeted by U.S. Treasury
- Network said to transfer millions of dollars to Quds Force
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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.