US Treasury slaps new sanctions on Iranian figures, entities

The head of Iran's paramilitary Revolutionary Guard General Mohammad Ali Jafari speaks to journalists after his speech at a conference called

The Treasury also said it was working with the UAE to disrupt a network that was purportedly transferring millions of dollars to the Quds Force, accusing Iran's central bank of helping the group access USA dollars held in foreign banks.

The deputy head of Iran's Revolutionary Guards Hossein Salami yesterday said that it is important to rely on resistance rather than diplomacy in order to face the economic war waged by the West against his country, the semi-official Fars news agency reported. The move reflects the UAE's determination to disrupt all terror-related networks and the sponsors of terrorist activities.

USA 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 US and UAE accused Iran's central bank of helping the group access US dollars held in foreign banks to sidestep Western sanctions.

"As I said following the President's announcement on Tuesday, we are intent on cutting off IRGC revenue streams wherever their source and whatever their destination", Secretary of the Treasury Steven Mnuchin said Thursday.

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.S. President Donald Trump announced Tuesday that he made a decision to pull his country out of the Iran nuclear deal.

Treasury designated six individuals and three business entities for their role in the scheme.

The IRGC chief said the U.S. exit showed Iran's nuclear program was just a pretext for the United States to place pressure on Iran, and their real concern is Iran's military might and its regional influence.

Peter Harrell, an adjunct senior fellow at the Center for a New American Security, said that given worldwide opposition to the USA withdrawal and "scant global support for renewed sanctions", Trump would face formidable challenges.

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