WASHINGTON: The US Treasury together with the United Arab Emirates announced action to disrupt an alleged “large scale” currency exchange network run by Iran’s powerful Islamic Revolutionary Guard Corps.
In the first such action since President Donald Trump withdrew from the Iran nuclear accord on Tuesday, the Treasury announced sanctions against six Iranian individuals and three companies tied to the IRGC who were part of the network, which it said handled “hundreds of millions” of dollars in exchange transactions.
The Treasury also singled out Iran’s central bank as “complicit” in the IRGC operation, alleging the bank gave the operation access to funds held in offshore bank accounts.
“The Iranian regime and its Central Bank have abused access to entities in the UAE to acquire US dollars to fund the IRGC-QF’s malign activities, including to fund and arm its regional proxy groups, by concealing the purpose for which the US dollars were acquired,” said Treasury Secretary Steven T. Mnuchin.
“We are intent on cutting off IRGC revenue streams wherever their source and whatever their destination,” he said.
The individuals and companies included an alleged IRGC “front company” in Tehran, Jahan Aras Kish, and a Tehran money-changer, Rashed Exchange.
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 new sanctions on the currency network ban US individuals and entities from doing business with them, aiming to lock them out of global dollar networks.
US sanctions hit Iran Revolutionary Guard currency network
US sanctions hit Iran Revolutionary Guard currency network
- The new sanctions on the currency network ban US individuals and entities from doing business with them, aiming to lock them out of global dollar networks.
Uganda to shut down Internet ahead of Thursday election: communication authority
- There was no statement from the government on the shutdown
- The officials said the authorities did not want to “own” the decision
KAMPALA: Uganda ordered an Internet blackout on Tuesday, two days ahead of elections in which President Yoweri Museveni is seeking to extend his 40-year rule.
“This measure is necessary to mitigate the rapid spread of online misinformation, disinformation, electoral fraud and related risks, as well as preventing of incitement to violence that could affect public confidence and national security during the election period,” the Uganda Communications Commission said in a letter to Internet providers, verified by government officials to AFP.
There was no statement from the government on the shutdown. The officials said the authorities did not want to “own” the decision.
Uganda shut down the Internet during the last election in 2021 — a vote that was marred by widespread allegations of rigging and state violence against the opposition, led by singer-turned-politician Bobi Wine, who is running again for the presidency.
The government repeatedly promised that the Internet would not be shut down during the election, stating in a post on X on January 5 that “claims suggesting otherwise are false, misleading, and intended to cause unnecessary fear and tension among the public.”
The suspension was due to take effect at 6:00 p.m. local time (1600 GMT) and remain in force “until a restoration notice is issued,” the UCC said.
Essential state services were to be exempted from the ban, it added.
