U.S. targets exchange house for evading sanctions against Iranian regime

WASHINGTON (The Wall Street Journal)-The U.S. Treasury Department said Wednesday it targeted an exchange house and trading company for aiding Iran in its attempts to evade economic sanctions.

The announcement comes as Treasury’s under secretary for terrorism and financial intelligence, David Cohen, appears before the Senate Foreign Relations Committee to testify about U.S. policy toward Iran.

Treasury said it sanctioned Al Hilal Exchange and Al Fida International General Trading, which are based in the United Arab Emirates, for providing financial services to previously designated Iranian banks. They have been used by Iran in an attempt to maintain access to foreign currency exchange, Treasury said.

The actions “make clear” the administration will go after non-bank financial institutions that facilitate Iran’s illicit conduct, Mr. Cohen said in a statement.

 

http://www.ncr-iran.org/en/ncri-statements/nuclear/13704-u-s-targets-exchange-house-for-evading-sanctions-against-iranian-regime.html

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