Why Conflict Gold Sanctions Fail

AI Summary

Following the US attack on Iran, the UAE shut down a network of money changers linked to the Islamic Revolutionary Guard Corps that facilitated laundering billions to evade sanctions. Despite efforts, sanctions on conflict gold have largely failed due to complex offshore operations.

In April 2026, over a month after the United States launched its attack on Iran, leading to thousands of reprisal strikes across the Gulf, the United Arab Emirates shut down a network of money changers connected to the Islamic Revolutionary Guard Corps. Iranian exchange houses and the shell companies built around them — vehicles for laundering billions in offshore Dubai-based holdings and funneling funds to help Iran evade sanctions — are reported to have knowingly operated on Emirati soil for over a decade.Washington’s pivotal Gulf ally proved useful in the fallout of the Iran war. Emirati authorities finally cracked down The post Why Conflict Gold Sanctions Fail appeared first on War on the Rocks.