US sanctions individuals, entities for Iran-linked counterfeiting

WASHINGTON – The US Treasury Department on Monday sanctioned a network of individuals and companies it said counterfeited Yemeni bank notes potentially worth hundreds of millions of dollars for Iran Revolutionary Guard's Qods Force.

The network circumvented European export restrictions in order to provide the counterfeiting supplies and equipment, according to a Treasury statement.

President Donald Trump last month declared Iran's Revolutionary Guard a supporter of terrorism and authorized Treasury to impose tough sanctions limiting its access to goods and funding.