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Iran: UAE orders freeze of assets of nine Iranians

United Arab Emirates (UAE) authorities in charge of security and commodities regulations have instructed companies to report on and freeze assets of nine Iranian individuals and organizations appearing on the country’s terror list. 

Securities and Commodities Authority has ordered all companies in the field to tell on and freeze all accounts, funds, securities, goods and items owned by or associated to these Iranian individuals and organizations, state-run news agency WAM reports.  

“The procedures also include the freezing of funds used by individuals and entities listed on the list approved by the State or by natural or legal persons associated with them,” according to WAM.  

The UAE in May placed nine Iranians and organizations on its terror list over connections with the Islamic Republic’s elite Revolutionary Guards. The same individuals and organizations also appear on the US list of terrorists and terror organizations. 

The individuals and organizations are described as including currency traders and front companies of the Revolutionary Guards.  

Companies are compelled to comply with instructions otherwise they will face sanctions.

The revolutionary Guards reportedly acquired over $1 billion through money changers and front companies in Dubai and Iraq in 2015.

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Posted by on Jul 4 2018. Filed under Finance, Gulf News, Headlines, World News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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