US and UAE disrupt Iranian currency scheme

Thread Reader:
United States #US and United Arab Emirates #UAE disrupt large scale currency exchange network transferring millions of dollars to #Iran’s #IRGC -Qods Force. Exchange Network CHART published by @USTreasury…

According to statement @USTreasury: “Today the US and the UAE jointly took action to disrupt an extensive currency exchange network in Iran and the UAE that has procured and transferred millions in U.S. dollar-denominated bulk cash to #Iran’s IRGC-QF) to fund its malign activities and regional proxy groups.”

“Specifically, the U.S. Department of the Treasury’s Office of Foreign Assets Control ( #OFAC) designated nine Iranian individuals and entities.”

#Iran’s Central Bank was 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. This network of exchangers and couriers has converted hundreds of millions of dollars.
Iran was allegedly using the US currency to fund its proxy groups in the Middle East.  That would most likely be Hezballah and the Houthis rebels in Yemen.  Iran has also been accused of funding Hamas in Gaza too.


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