🔶 UAE Central Bank imposes sanctions on Iran’s Bank Melli

The United Arab Emirates on Wednesday, September 23 (Mehr 2), announced the imposition and implementation of strict sanctions measures against branches of Iran’s Bank Melli.

In a statement in this regard, the UAE Central Bank said that the imposition of these sanctions was carried out due to violations related to failure to comply with the regulations, laws and current supervisory decisions in this country.

The institution also emphasized, in this connection, the commitments foreseen within the framework of laws to combat money laundering, terrorist financing, and the financing of weapons proliferation.

According to the statement of the UAE Central Bank, any financial transaction to or from Iran is prohibited for all branches of Bank Melli Iran in this country. This prohibition also includes the financing of trade and the transfer of funds.

The United Arab Emirates, particularly Dubai, has played an important role in trade exchanges with the Islamic Republic; exchanges that have been affected following the war between the United States and Israel against the Islamic Republic and Iran’s retaliatory reactions toward neighboring countries.