The UAE listed nine individuals and entities on Thursday on its terrorism list. The move reflects the UAE's determination to disrupt all terror-related networks and the sponsors of terrorist activities.
In the first such action since President Donald Trump withdrew from the Iran nuclear accord, the Treasury announced sanctions against six Iranian individuals and three companies tied to the IRGC who were part of the exchange network, which it said handled "hundreds of millions" of dollars in exchange transactions.
Network exchangers and couriers converted and transferred hundreds of millions of USA dollars to the Iranian Revolutionary Guard Corps (IRGC), specifically the Quds Force (IRGC-QF), a recognized supporter of global terrorism, to "fund its malign activities and regional proxy groups", the department said in a statement.
The Treasury said that it was working with the United Arab Emirates (UAE) to "disrupt an extensive currency exchange network in Iran and the UAE that has procured and transferred millions in US dollar-denominated bulk cash to Iran's Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) to fund its malign activities and regional proxy groups".
Treasury's Office of Foreign Assets Control blacklisted nine Iranian entities - six individuals and three firms - involved in an illegal currency-exchange network in the United Arab Emirates.
The crackdown comes as U.S. Secretary of State Mike Pompeo pushes allies in Europe, Asia and the Middle East to pressure Iran to return to negotiations over its nuclear and missile programs.
The president's decision has given grace periods of 90 days to six months for companies to wind down their trade with Iran.
Brigadier General Salami made the remarks in southeastern city of Zahedan in Sistan and Baluchistan Province on Thursday in reaction to Donald Trump announcement that the United States has started withdrawing from the nuclear deal with Iran.
Trump also said on Tuesday he would revive USA economic sanctions against Iran.
The Treasury Department said one of the companies sanctioned was also involved in retrieving oil revenue from foreign bank accounts held by the Iranian central bank for IRGC-QF activities.