Trump administration hits Iran's central bank with terror sanctions

16 May, 2018, 08:04 | Author: Dustin Murphy
  • US Hits Iranian Central Bank Governor With Terror Sanctions

"It is appalling, but not surprising, that Iran's senior-most banking official would conspire with the IRGC-QF to facilitate funding of terror groups like (Hezbollah), and it undermines any credibility he could claim in protecting the integrity of the institution as a central bank governor", Mnuchin said in a statement.

Valiollah Seif, the governor of the Iranian central financial institution, was named a "specifically designated global terrorist" together with one other senior official, Ali Tarzali, who works within the central financial institution's worldwide division.

With this, the Treasury Department is trying to clamp down on Iran's ability "to abuse the US and regional financial systems".

At the time, the USA singled out the Central Bank of Iran as "complicit" in the operation, foreshadowing Tuesday's action. "The United States will not permit Iran's increasingly brazen abuse of the global financial system". "The worldwide neighborhood should stay vigilant towards Iran's misleading efforts to supply monetary help to its terrorist proxies".

The exact ramifications of the sanctions for Iran's economy were not immediately clear. The US said that the sanctions on Seif did not extend to Iran's central bank itself.

Tuesday's action seeks to cut off what the U.S. called a "critical" banking network for Iran and deny those blacklisted access to the global financial system. Seif and Tarzali are also being hit with secondary sanctions under Iranian Financial Sanctions Regulations (IFSR).

There was no quick remark Tuesday evening from Iranian officers. Iranian media initially reported the decision based on reports in the foreign media.

Trump had threatened for more than a year to abandon the deal.

Last week, two days after U.S. President Donald Trump withdrew from the 2015 Iran nuclear deal, the U.S. Treasury imposed sanctions against six individuals and three companies it said were funneling millions of dollars to the IRGC-QF. On Tuesday, Iranian Foreign Minister Mohammad Javad Zarif was meeting in Brussels with the top French, British and German diplomats as the Europeans seek to keep Iran from bailing on the deal. Habib and the bank are also subject to secondary sanctions.

The U.S. faced a May 12 deadline to decide whether or not to remain in the Iran nuclear deal.

"A senior Bank official of Iran has helped...the financing of terrorist groups such as Hezbollah, the USA will deter the increasingly brazen abuse of Iran to the worldwide financial system", - quotes Bloomberg Mnuchin.



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