US Treasury issues new sanctions on Iran

Iran Revolutionary Guards chief: 'Fate of nuclear deal is clear'

U.S. individuals and entities will be barred from doing business with them following the move, which was carried out in conjunction with the United Arab Emirates (UAE).

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.

The US and UAE accused Iran's central bank of helping the group access US dollars held in foreign banks to sidestep Western sanctions. Using forged documents, network operatives were able to operate under the radar in the UAE, distributing funds to Iran's most radical military units and regional proxies.

Trump announced he was withdrawing the U.S. from the accord with Iran on Tuesday, abruptly restoring harsh sanctions in the most consequential foreign policy action of his presidency. Iran preferred using a network of front companies to handle the money laundering in order to hide "the overall size of the dollar-purchasing operation".

Mnuchin thanked the UAE for its "close collaboration" in disrupting the money laundering and called on all nations to "be vigilant" in fighting Iranian attempts at money-laundering to "fund the nefarious actors of the IRGC-QF and the world's largest state sponsor of terror".




The IRGC-QF has been blacklisted since October 25, 2007, and the broader IRGC has been designated since October 13, 2017.

It added that due to Trump's decision to cease the US participation in the JCPOA, "as of August 7, 2018, the United States Government will re-impose sanctions on the purchase or acquisition of USA dollar banknotes by the Government of Iran".

The US government made clear Tuesday when Trump announced the end of US participation in the JCPOA nuclear deal that going ahead, Washington was going to ramp up pressure on the IRGC and the Central Bank of Iran.

The latest sanctions specifically target its elite overseas operations arm, the Quds Force.

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

Related news:

Hot News

isis-killer-beheading-video-story-top Paul Merson: Manchester United players look "petrified" of Jose Mourinho
May 14, 2018 - 00:12
Manchester United players are "petrified" of Jose Mourinho and would not care if they were sold this summer, Paul Merson has said. Moyes signed a deal until the end of the season, tasked with keeping the Hammers in the Premier League.

isis-killer-beheading-video-story-top Collegium likely to repeat recommendation for Justice KM Joseph to SC…
May 14, 2018 - 00:08
Though Justice Chelameswar, who retires on June 22, wasn't present at the meeting, he backed reiteration of the name. According to current norms, a unanimous reiteration must be agreed to by the Centre and the Judge must be sworn in.

isis-killer-beheading-video-story-top Carvalhal to Leave at the End of the Season
May 12, 2018 - 14:22
Sky Bet are offering a whopping 150/1 for Swansea to avoid relegation in the 2017/18 Premier League season. Former Wales manager Chris Coleman has become available after leaving Sunderland.

isis-killer-beheading-video-story-top Google reassures critics that Duplex AI will disclose its robot identity
May 12, 2018 - 14:22
The vision for Duarte and Google at large is to free up all that data and make the interfaces that lock it away disappear. The company is placing robots in conversations with humans, without those people realizing.

isis-killer-beheading-video-story-top Madame Tussauds' Meghan Markle Was Just Unveiled-Her Outfit Is Perfect
May 12, 2018 - 14:20
Apparently, like Kate, Meghan wants her makeup to be natural, so has asked friends who know who well to help out. Recall, the half-brother of Megan Markle wrote a letter to Prince Harry with the request "not to marry Megan".

isis-killer-beheading-video-story-top Eurovision Has Blocked China From Watching This Year's Contest
May 12, 2018 - 14:19
Australia turned up in style with Guy Sebastian (the Aussie equivalent of Bruno Mars) and finished, impressively, in fifth place. Rooting for your country in the Eurovision Song Contest may have the ability to improve your your mood, a study has found.

isis-killer-beheading-video-story-top New DEADPOOL 2 Promo Features David Beckham
May 12, 2018 - 14:18
The pair then hug, with Deadpool continuing for an awkwardly long time and saying Beckham smells of cinnamon and manhood. One user said that perhaps the actor is being held hostage by Deadpool which is why he is sharing the love .

isis-killer-beheading-video-story-top Imam ready to shine in 'dream' Test debut
May 11, 2018 - 01:07
Earlier, the PCB made an offer to New Zealand Cricket to play one of their T20Is in Pakistan later this year. Imam-ul-Haq is set to make his first Pakistan Test appearance.

isis-killer-beheading-video-story-top Mourinho 'not totally happy' with second place
May 11, 2018 - 01:06
Thursday's game would not be his first against his former club as West Ham opened the season at Old Trafford on August 13. One of the only players who can be proud of their performance.

isis-killer-beheading-video-story-top 104-year-old scientist ends life listening to 'Ode to Joy'
May 11, 2018 - 01:04
Goodall mentioned he expected that his narrative would contribute into the legalization of assisted dying in different nations. His case caused controversy in Australia, with doctors in Perth at one point threatening to stop him flying to Switzerland.

isis-killer-beheading-video-story-top Amherst County schools releasing students after severe storms
May 11, 2018 - 01:02
Wednesday, there is a 50 percent chance of showers and thunderstorms, with a high near 85, the weather service said. A line of severe thunderstorms has moved into far western Lower Michigan as of 8:27 p.m.

isis-killer-beheading-video-story-top Blankenship loses bitter Republican US Senate fight in West Virginia
May 11, 2018 - 01:01
With all precincts reporting, Morrisey commanded almost 35 percent of the vote , compared to more than 29 percent for Rep. A poll from CNN was the cherry on top of the whipped cream: "Democrats' 2018 advantage is almost gone".

isis-killer-beheading-video-story-top Pound dips after Bank of England holds rates
May 11, 2018 - 01:01
Practically, this largely involves the Bank adjusting interest rates to try and keep inflation at, or as close to, a target of 2%. Any future rate hike will be "gradual and limited" as Brexit-related uncertainties weigh.

isis-killer-beheading-video-story-top Walmart deal worries traders big time
May 11, 2018 - 01:00
Walmart's deal to acquire Indian online giant Flipkart will open up new opportunities for Indian start-ups, according to analysts. Wealth managers are making a beeline for individuals who made windfall gains in Thursday's blockbuster Flipkart sale.

isis-killer-beheading-video-story-top Yankees, Red Sox to play in London next season
May 11, 2018 - 00:59
But the Sox quickly answered with a two-run home run by Mitch Moreland in the second. "And they come to work", Boone said. On the other hand, the Yankees have netted 4.8 units and are 6-5 ATS when facing a left-handed starting pitcher.