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"Iran is the leading state sponsor of terrorism in the world today," Cohen said in a statement. "We are illuminating yet another aspect of Iran's unmatched support for terrorism."

Treasury said the exposure of the clandestine agreement would disrupt al-Qaida operations by shedding light on Iran's role as a "critical transit point" for money and extremists reaching Pakistan and Afghanistan.

"This network serves as the core pipeline through which al-Qaida moves money, facilitators and operatives from across the Middle East to South Asia," it said..