The US Treasury’s Office of Foreign Assets Control (Ofac) is targeting five UAE companies it accuses of trading Iranian petroleum products and petrochemicals, saying they “collectively purchased hundreds of thousands of metric tons” for delivery to the UAE in 2019.

“The Iranian regime uses revenues from petroleum and petrochemical sales to fund its terrorist proxies” such as the international Qods Force of the Islamic Revolutionary Guard Corps (IRGC), US Treasury Secretary Steven Mnuchin says. (CONTINUED - 886 WORDS)