UAE sanctions country's branches of Iran's Bank Melli
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2 hours ago|Last Updated :
2 hours ago|The UAE's central bank said Wednesday that it had imposed sanctions on the Emirati branches of Iran's Bank Melli, accusing it of violating local laws including on money laundering and terrorism.
The bank said in a statement that "it has been decided to prohibit all branches of Bank Melli Iran operating in the UAE from conducting any financial transactions to and from Iran, including trade finance and fund transfers".
