UAE asks banks to freeze accounts of those named on the Qatar-linked blacklist

The United Arab Emirates’ central bank has asked all banks and financial institutions to stop dealing with 18 more individuals and entities with alleged links to Qatar, the state news agency WAM reported on Thursday.

The latest move suggests the two-month spat between Qatar and its Gulf neighbors is no closer to a resolution despite mediation by the United States and Kuwait. The four Arab states cut diplomatic and transport ties with Qatar — a major global gas supplier and host to the biggest U.S. military base in the Middle East — on June 5, accusing it of financing militant groups in Syria and allying with Iran, their regional foe.

Last month, the UAE central bank ordered local banks to stop dealing with 59 individuals and 12 entities with alleged links to Qatar and to freeze their assets. The move makes it the first financial watchdog in the Gulf to act on the new blacklist, with regulators in Saudi Arabia, Bahrain and Egypt likely to follow.

Source Credit: U.S. News
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