TFTC and Presidency of State Security jointly designate detailed network supporting IRGC and Hizballah

TFTC and Presidency of State Security jointly designate network of corporations, banks

A statement issued jointly by Presidency of State Security and its partners in the Terrorist Financing Targeting Center (TFTC) designated a network of companies, banks, and individuals supporting the terrorist activities of the Islamic Revolutionary Guard Corps (IRGC) and Hizballah.

On this day, the seven member countries of the TFTC have jointly categorized 25 targeted names for their affiliation to the Iranian regime’s terrorist support networks in the region, the center’s largest joint classification so far.  

This announcement focuses on entities that support the IRGC and Iran’s proxies in the region, including the terrorist party, Hizballah.

Many of the companies defined in this classification provide financial support to the Iranian Basij paramilitary forces, a paramilitary force of the IRGC, which has long been used by the regime to recruit and train fighters, deploy fighters to fight in conflicts inflicted by the IRGC, and carry out terrorist attacks throughout the region.

Preventing Iran from escalating its malicious terrorist activities in the region, GCC countries and the United States took a common position and jointly disrupted the financial networks used by the Iranian regime to finance terrorism.

This announcement is considered a multilateral action by partners at the TFTC to detect and condemn serious and repeated violations of international standards by the Iranian regime, including an attack that threatens the global economy by targeting oil installations in Saudi Arabia, stirring sedition and carrying out acts of sabotage in neighboring countries through regional proxies like the terrorist party, Hizballah.

This coordinated action is an effective step towards denying the Iranian regime the ability to undermine the region stability.

The announcement of this classification by the TFTC is an effective effort to expand and strengthen cooperation among the seven countries (Saudi Arabia, United States, United Arab Emirates, Kingdom of Bahrain, Oman, Qatar, Kuwait) in the field of combating terrorism finance.

The TFTC coordinates actions that disrupt financing of terrorism, sharing information, and building the capacity of Member States to target activities that pose a threat to the national security of TFTC member States.