US imposes new Iran-related sanctions on Iraq-based firm, associates

An Iraq-based company and two associates have been sanctioned by the US for supplying millions of dollars' worth of weaponry to fighters from the Quds Force The Islamic Revolutionary Guard Corps, whose Iraqi branch the Quds Force branch of the Islamic Revolutionary Guard Corps, pictured here in 2018. (AFP/File Photo)
Updated 13 June 2019

US imposes new Iran-related sanctions on Iraq-based firm, associates

  • SWRC and two associates have “covertly facilitated the IRGC-QF’s access to the Iraqi financial system”
  • The IRGC-QF were previously sanctioned in October 2007

WASHINGTON: The US has imposed Iran-related sanctions on an Iraq-based company and two people, according to a notice posted on the US Treasury Department website on Wednesday.

The Treasury said in a statement that it had imposed the sanctions on South Wealth Resources Company (SWRC) and two of its Iraqi associates, which the US accuses of trafficking hundreds of millions of dollars’ worth of weapons to militia in Iraq backed by the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF).

SWRC and the two associates have “covertly facilitated the IRGC-QF’s access to the Iraqi financial system to evade sanctions,” the statement said. 

The Treasury added that the scheme also served to enrich previously sanctioned Abu Mahdi Al-Muhandis, an Iraqi adviser to IRGC-QF Commander Qasem Soleimani, who has run weapons smuggling networks and participated in bombings of Western embassies and attempted assassinations in the region.

“Treasury is taking action to shut down Iranian weapons smuggling networks that have been used to arm regional proxies of the IRGC Qods Force in Iraq, while personally enriching regime insiders,” said Treasury Secretary Steven T. Mnuchin.

“The Iraqi financial sector and the broader international financial system must harden their defenses against the continued deceptive tactics emanating from Tehran in order to avoid complicity in the IRGC’s ongoing sanctions evasion schemes and other malign activities.”

The IRGC-QF were previously sanctioned in October 2007. It is a branch of the IRGC responsible for external operations and, according to the US Treasury, has provided material support to numerous terrorist groups, including the Taliban, Lebanese Hizballah, HAMAS, and Palestinian Islamic Jihad.

The US has designated it a key component of Iran’s destabilizing regional activities. 

The IRGC-QF’s parent organization, the IRGC, was sanctioned in October 13, 2017, and on April 15 was designated as a Foreign Terrorist Organization by the Secretary of State.


Kuwait’s government resigns ahead of anticipated elections

Updated 14 November 2019

Kuwait’s government resigns ahead of anticipated elections

  • An election is also expected for the 50-seat parliament in early 2020
KUWAIT: Kuwait’s state-run news agency says the Arab Gulf country’s Cabinet has resigned.

The move comes ahead of parliamentary elections early next year.

KUNA reported on Thursday that Kuwait’s Prime Minister Sheikh Jaber Al Sabah formally submitted his Cabinet’s resignation to the country’s ruler, Sheikh Sabah Al Sabah.

The government in Kuwait has resigned in the past, particularly when faced with no-confidence votes and grilling of ruling family members.

An election is also expected for the 50-seat parliament in early 2020.