The US government yesterday targeted a UAE exchange house and a trading company for allegedly helping Iran attempt to circumvent global economic sanctions.
Al Hilal Exchange and Al Fida International General Trading were sanctioned by the US treasury department for "providing financial services to previously designated Iranian banks", the department said in a statement.
The action comes one week after Al Hilal Exchange, based in Dubai, had its licence revoked by the UAE Central Bank for committing anti-money laundering and regulatory violations.
'via Blog this'
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