US, UAE Announce Disruption of Iranian Money Laundering Scheme

Iran Revolutionary Guards chief: 'Fate of nuclear deal is clear'

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Iran's central bank helped the IRGC to access United States dollars via "a large-scale currency exchange network", he said.

The deputy head of Iran's Revolutionary Guards Hossein Salami yesterday said that it is important to rely on resistance rather than diplomacy in order to face the economic war waged by the West against his country, the semi-official Fars news agency reported. Treasury Secretary, Steven Mnuchin said in a statement that the penalties targeted those who had funnelled millions of dollars to Iran's military.

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.

Russia, Germany and France called on both countries to exercise restraint, but the USA said Iran bore "full responsibility for the consequences of its reckless actions" and that Israel had a right to defend itself.

They had concealed the acquisition of funds and transfers, Mnuchin asserted, adding that the treasury was acting with the UAE.

Five talking points from stage seven of the Giro d'Italia
Froome is now eighth in the generation classification, one minute and 10 seconds behind Yates. "I felt really good", Yates said. New Zealand's George Bennett finished towards the rear of the peloton in 30th and remains ninth overall.

Asked whether Riyadh would "build a bomb itself" if Tehran seizes on Washington's withdrawal from the 2015 Iran deal to resume a nuclear weapons program, Jubeir said: "If Iran acquires nuclear capability we will do everything we can to do the same".

Treasury designated six individuals and three business entities for their role in the scheme.

The 2015 agreement curbed Iran's nuclear activities in return for the lifting of UN, US and European Union sanctions.

The updated list of individuals subject to sanctions has been expanded with the names Meghdad Amini, Mohammad Hasan Khodai, Said Najafpur, Masud Nikbakht, Foad Salehi and Mohammadreza Khedmati Valadzaghard, which the USA says are linked to the "Quds Force" of the IRGC.

The president's decision has given grace periods of 90 days to six months for companies to wind down their trade with Iran.

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