The Dubai Financial Services Authority (DFSA) has frozen the assets of Persia International Bank’s Dubai branch to comply with tougher EU sanctions on Iran.
The freeze follows the addition of Persia International to the EU’s list of sanctions targets on July 26 as Iran comes under greater pressure to cease a uranium enrichment programme it has pursued sporadically since the 1950s. Iran insists the nuclear programme is for peaceful purposes only.
“As part of this [EU] regulation, the assets of a number of persons, entities and bodies were frozen, including Persia International Bank,” the DFSA, which regulates companies based in the Dubai International Financial Centre (DIFC), said in an alert on its website yesterday. “The asset freeze applies to [the bank’s] Dubai branch, a DFSA-authorised firm.”
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