The US on Wednesday announced sanctions on alleged Iranian weapons procurement networks, a punishment intended to support recently reimposed UN penalties against Tehran over its nuclear programme.
The US Treasury Department said it was targeting 21 companies and 17 individuals "involved in networks that facilitate the acquisition of sensitive goods and technology" for Iran's ballistic missile and military aircraft programmes.
Washington accused the sanctioned networks of posing a "significant threat to US service members in the Middle East, US commercial ships transiting international waters and civilians".
“The Iranian regime’s support of terrorist proxies and its pursuit of nuclear weapons threaten the security of the Middle East, the United States and our allies around the world,” said Scott Bessent, US Secretary of the Treasury. “Under President [Donald] Trump’s leadership, we will deny the regime weapons it would use to further its malign objectives.”
The designations come after Iran was hit with snapback sanctions by the UN at the weekend over what western powers say is Tehran's failure to adhere to a 2015 deal to regulate its nuclear programme. Britain, France and Germany last month launched the process at the UN to reinstate the sanctions, saying Tehran was in breach of its commitments.
Under the deal reached between world powers and Iran in 2015, Iran agreed to limit uranium enrichment to levels, in exchange for economic sanctions being lifted. The UN's International Atomic Energy Agency, meanwhile, is monitoring Tehran’s nuclear programme.
The purpose of the snapback mechanism was to swiftly reimpose all sanctions in place before the deal, without being vetoed by UN Security Council members, including permanent members Russia and China, in the event that Iran was non-compliant.
Last month, Britain, France and Germany − known as the E3 − notified UN Secretary General Antonio Guterres and the Security Council president that they were triggering the procedure. That began a 30-day window during which a new resolution to continue sanctions relief for Iran had to be adopted to avoid the restrictions being reimposed. Last-ditch efforts to do so failed.
The US designations are the first to be imposed by Mr Trump's administration since snapback sanctions came into effect last week. Iran's already reeling economy is set to deteriorate further as inflationary pressures mount. Its currency has continued to lose value against the US dollar since sanctions were reimposed.
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*Tickets: Start at Dh10, from ttensports.com
*TV: Ten Sports
*Streaming: Jio Live
*2017 winners: Kerala Kings
*2018 winners: Northern Warriors
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Range: 400km
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'The Batman'
Stars:Robert Pattinson
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Honeymoonish
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McLaren GT specs
Engine: 4-litre twin-turbo V8
Transmission: seven-speed
Power: 620bhp
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Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
UAE currency: the story behind the money in your pockets
French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
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Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
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What She Ate: Six Remarkable Women & the Food That Tells Their Stories
Laura Shapiro
Fourth Estate
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
