The United Arab Emirates is weighing freezing billions of {dollars} of Iranian belongings held within the Gulf state, a transfer that might curb Tehran’s entry to international foreign money and world commerce amid the U.S.-Israeli army battle, the Wall Avenue Journal reported on Thursday.
UAE authorities are weighing measures starting from freezing the belongings of UAE-based shadow corporations used to masks commerce to a sweeping monetary crackdown on native foreign money exchanges, that are used to maneuver cash exterior of formal banking channels, the report stated, citing officers acquainted with discussions.
If the UAE decides to maneuver on Iran’s shadow-financing empire, a key goal could be accounts affiliated with the Islamic Revolutionary Guard Corps, the report added.
-Reuters