The United Arab Emirates is weighing freezing billions of dollars of Iranian assets held in the Gulf state, a move that could curb Tehran’s access to foreign currency and global trade amid the U.S.-Israeli military conflict, the Wall Street Journal reported on Thursday.
UAE authorities are weighing measures ranging from freezing the assets of UAE-based shadow companies used to mask trade to a sweeping financial crackdown on local currency exchanges, which are used to move money outside of formal banking channels, the report said, citing officials familiar with discussions.
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See Details on AmazonIf the UAE decides to move on Iran’s shadow-financing empire, a key target would be accounts affiliated with the Islamic Revolutionary Guard Corps, the report added.
-Reuters
