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The Wall Street Journal: U.S. levies sanctions on Iran currency exchange that funds Quds military unit

WASHINGTON—The U.S. took a step toward cutting Iran off from the global economy on Thursday, levying sanctions on a financing network and accusing the country’s central bank of helping funnel U.S. dollars to the blacklisted elite military unit known as the Quds Force.

Acting jointly with the United Arab Emirates, the U.S. Treasury Department imposed sanctions on several Iranian firms, individuals and officials it said are operating an illegal currency-exchange network in the U.A.E.

The sanctions were the first since President Donald Trump this week pulled out of the landmark Iran nuclear deal and announced a return to economy-crippling sanctions against Tehran, and represented a move toward cutting off the Middle Eastern country’s access to dollars.

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