The UAE wants to arrest Iranian accounts and tankers of the shadow fleet

Authorities in the United Arab Emirates are considering freezing billions of dollars in Iranian assets, The Wall Street Journal reports.

The UAE’s move will significantly limit Tehran’s already limited access to foreign currency and global trade networks.

Over the years, the UAE has served as a financial hub for Iranian businesses and individuals, providing them with refuge from Western sanctions. This infrastructure allowed Tehran to continue to sell oil on the international market and use the proceeds to rearm and support terrorist organizations in the region.

According to the WSJ, Abu Dhabi is considering several measures, ranging from freezing the accounts of shell companies used to hide transactions to action against unofficial money changers through which Iranian money bypasses the official banking system. A key target of any possible action would be accounts linked to the Islamic Revolutionary Guard Corps.

In addition to the asset freeze, Abu Dhabi is considering direct maritime measures, including the arrest of Iranian ships in Emirati ports and shipping corridors.