Treasury Sanctions Iraqi Firm Accused of Smuggling Arms for Iran
Treasury Sanctions Iraqi Firm Accused of Smuggling Arms for Iran
The U.S. Treasury Department on Wednesday imposed sanctions on an Iraqi company it said had trafficked hundreds of millions of dollars in arms for Iran’s Islamic Revolutionary Guard Corps Quds Force.
Treasury’s blacklisting of the South Wealth Resources Company, or Manabea Tharwat al-Janoob General Trading Company, is part of the Trump administration’s broader pressure campaign against Tehran that the White House says is meant to coerce the government into a nuclear and regional security pact. The latest sanctions also affect two Iraqi men the U.S. accuses of aiding the IRGC’s weapon imports.
“Treasury is taking action to shut down Iranian weapons smuggling networks that have been used to arm regional proxies of the IRGC Qods Force in Iraq, while personally enriching regime insiders,” said Treasury Secretary Steven Mnuchin. The secretary said Iraq’s financial system must bolster efforts to counter illicit Iran-directed activity.
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