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US blacklists Iraq firm as Revolutionary Guard guns front

The US Treasury has placed Iraq-based South Wealth Resources on its sanctions blacklist, saying the company is an important weapons trafficking and financial front for Iran’s Islamic Revolutionary Guard Corps.

The Treasury says the company, Manabea Tharwat al-Janoob General Trading Company, was used by the IRGC to smuggle “hundreds of millions of dollars’ worth” of weapons to IRGC allies in Iraq.

South Wealth Resources has also helped move millions of dollars to Iraq “for illicit financial activity benefiting” the IRGC and Iraq militias it supports.

— AFP

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