UAE targets Iran Revolutionary Guards companies

United Arab Emirates has frozen the bank accounts of companies connected with Iran’s Revolutionary Guards, according to Masood Daneshmand head of UAE-Iran Chamber of Commerce.

Daneshmand added that Karbala and Khatam al-Anabia subsidiary companies have had their bank accounts blocked and that Iran will reduce its trade with the UAE in reaction to this development.

He went on to say that no private companies were seen in the list of 41 frozen bank accounts and only the people and entities mentioned in the fourth UN resolution were actually affected by the move.

ISNA reports that Daneshmand stated that UAE suspects that these companies are involved in nuclear energy activities but Iran “does not appreciate” this action and will “reduce its level of trade” with them.

UAE Central Bank also informed all Emirates banks and financial institutions recently to freeze all the accounts and assets of the companies and individuals listed in the 1929 UN resolution.

The fourth UN resolution imposes sanctions against a series of companies and individuals that they contend are active in Iran’s nuclear and military activities.

The resolution calls for banning of foreign travel for these individuals and the freezing all their bank accounts.