US imposes sanctions on Iraq-based money exchange for Daesh ties

A vendor inspects Iranian rials at a currency exchange shop in Baghdad, Iraq August 8, 2018. (Reuters)
Updated 17 October 2018
0

US imposes sanctions on Iraq-based money exchange for Daesh ties

  • The Treasury action followed a Pentagon decision on Oct. 11 targeting a financial group supporting Daesh

WASHINGTON: The US Treasury imposed sanctions on Wednesday on an Iraq-based money services business, Afaq Dubai, believed to be moving funds for the Daesh militant group.
The Treasury’s Office of Foreign Assets Control added Afaq Dubai to its list of specially designated global terrorists for “assisting in, sponsoring or providing financial, material or technical support” for the Daesh group, the department said in a statement.
The Treasury action followed a Pentagon decision on Oct. 11 targeting a financial group supporting Daesh. The Treasury said the moves are part of a broader US effort to target a network of money services businesses that enable Daesh to carry out operations across the Middle East.
In September, the Treasury took action against Daesh financial facilitators with ties in the Caribbean and the Middle East. It took action against a money exchange group in Syria in December 2016.
The Treasury said Afaq Dubai is located in Iraq and does not have branches in the United Arab Emirates, despite its name. Afaq Dubai is run by two Daesh financiers and as of early 2018 was laundering money for the group and providing money for families in the group, the Treasury said.


US targets Hezbollah Iraq network with new sanctions

Updated 12 min 29 sec ago
0

US targets Hezbollah Iraq network with new sanctions

WASHINGTON: The US Treasury expanded its attack on Hezbollah's financial network Tuesday, hitting key representatives of the Lebanese militant group in Iraq with sanctions.
The Treasury blacklisted Shibl Muhsin 'Ubayd Al-Zaydi, Yusuf Hashim, Adnan Hussein Kawtharani, and Muhammad 'Abd-Al-Hadi Farhat under its Specially Designated Global Terrorists program, saying they moved money, acquired weapons and trained fighters in Iraq for the group.
Among the four, Al-Zaydi was a key coordinator between Hezbollah, Iran's blacklisted Revolutionary Guards, and their supporters in Iraq, the Treasury said.
He is close to alleged Hezbollah financier Adham Tabaja, and coordinated smuggling oil from Iran into Syria.
He also sent Iraqi fighters to Syria allegedly on behalf of the Revolutionary Guard, the Treasury said.
The other three were also involved in collecting intelligence and moving money for Hezbollah in Iraq, it said.
"Hezbollah is a terrorist proxy for the Iranian regime that seeks to undermine Iraqi sovereignty and destabilize the Middle East," said Sigal Mandelker, Treasury under secretary for terrorism and financial intelligence.
"Treasury's concerted actions aim to deny Hezbollah's clandestine attempts to exploit Iraq to launder funds, procure weapons, train fighters, and collect intelligence as a proxy for Iran," Mandelker said in a statement.