Iranians account freezed

The Securities and Commodities Authority (SCA) on Tuesday frozen the accounts of nine Iranian individuals and entities on the United Arab Emirates (UAE) terrorism list, local media reported.

 The SCA, based in the capital Abu Dhabi, issued a circular to all companies operating in regulated securities and commodities about the implementation of a UAE resolution, which relates to the country’s “list of terrorist organisations and individuals.”

 These companies are required to identify and freeze any funds, securities, commodities belonging to the nine Iranian individuals and entities on the list, as well as people related to them.

 The Authority also urged related parties and investors in UAE-based financial markets to report any suspicious transactions. 

 In May, the UAE endorsed U.S. President Donald Trump’s decision to pull out of the Iranian nuclear agreement which was signed in 2015 between Iran and six world powers, namely the U.S., Britain, France, Russia, China and Germany. 

 Following its withdrawal from the international nuke pact, the U.S. vowed to re-impose sanctions on Iran and inflict punishments including secondary sanctions on countries that have business links with the Islamic republic.

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