US Treasury sanctions target ‘transfer of billions’ to Iran’s Revolutionary Guards

The sanctions target the transfer of money to Iran's elite Revolutionary Guards. (AFP)
Updated 26 March 2019
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US Treasury sanctions target ‘transfer of billions’ to Iran’s Revolutionary Guards

  • Treasury blacklists 25 people and entities that are part of ‘vast network’
  • Measures against banks and other financial institutions

WASHINGTON: The US on Tuesday imposed fresh sanctions on a network of companies and people it said was transferring billions of dollars and euros to Iran’s elite Revolutionary Guards.

The US Treasury said it was blacklisting 25 people and entities, including front companies based in Iran, Turkey and the UAE, associated with Iran’s Islamic Revolutionary Guards Corps and the Ministry of Defense and Armed Forces Logistics, or MODAFL.

The targeted institutions include banks and other financial institutions, including Ansar Bank, Atlas Exchange and Iranian Atlas Company.

“We are targeting a vast network of front companies and individuals located in Iran, Turkey, and the UAE to disrupt a scheme the Iranian regime has used to illicitly move more than a billion dollars in funds,” Treasury Secretary Steven Mnuchin said in a statement.

Mnuchin said the IRGC and MODAFL continued to try to evade sanctions to help Iran’s government fund terrorism and destabilize the Middle East.

Washington reimposed sanctions against Iran after President Donald Trump withdrew from a 2015 nuclear deal between Tehran and six world powers, and moved to isolate Tehran. It has also imposed a string of new sanctions, including against the IRGC and its external arm, Quds Force, to choke off funding for its overseas operations.

The IRGC is by far Iran’s most powerful security organization and has control over large stakes in Iran’s economy and huge influence in its political system.


Turkey’s election board rejects objection for ‘dismissed voters’

Updated 2 min 41 sec ago
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Turkey’s election board rejects objection for ‘dismissed voters’

  • Based on initial results and a series of recounts, the main opposition Republican People’s Party (CHP) won the mayoralty in Istanbul

ISTANBUL: Turkey’s high election board has rejected part of an effort by President Tayyip Erdogan’s ruling party to have a rerun of elections in Istanbul, dismissing an appeal regarding voters who were dismissed by decrees from government jobs after an attempted coup in 2016, state news agency Anadolu said.

In a petition submitted to cancel and rerun the city elections that it lost three weeks ago, Erdogan’s AK Party cited thousands of ballots cast by people it said were ineligible to vote due to previous government decrees.

Based on initial results and a series of recounts, the main opposition Republican People’s Party (CHP) won the mayoralty in Istanbul, Turkey’s largest city, with a margin of some 13,000 votes.

The new CHP mayor, Ekrem Imamoglu, took office on Wednesday, despite a formal request submitted a day earlier by the AK Party to annul and repeat the mayoral elections over what it said were irregularities.

The high election board, the YSK, has not yet ruled on the appeal to annul and rerun the elections due to voting irregularities including faulty entering of voting data, a wider issue that has been described by the AK Party as organized fraud.

The YSK also ruled to investigate the status of 41,132 voters, including people who according to the AK Party were dead, ineligible or voted twice, and to look into some ballot box council attendants.