UAE orders assets freeze of 9 Iran individuals, entities

The United Arab Emirates Securities and Commodities Authority yesterday ordered firms operating in the field of securities and commodities to identify and freeze the accounts of nine Iranian individuals and entities the UAE has placed on its national terrorism list.

The athority said in a statement that “the procedures also include the freezing of funds used by individuals and entities listed on the list approved by the State or by natural or legal persons associated with them.”

The names of the individuals and entities were not released.

READ: White House must choose between tough Iran sanctions and moderate gasoline prices 

According to the statement, the individuals and entities were included on the list because they had bought and transferred millions of dollars to the Quds Force of the Iranian Revolutionary Guard and its agents to fund destabilising activities in the region.

In May, the UAE Cabinet issued a decision to list six Iranian individuals and three entities on its national list of terrorism.

The same Iranian entities and individuals were also included on a US terrorism list days after President Donald Trump withdrew from the Iranian nuclear deal.