Trump administration hits Iran's central bank with terror sanctions

16 May, 2018, 06:19 | Author: Essie Rivera
  • President Donald Trump meets with German Chancellor Angela Merkel in the Oval Office of the White House Friday

The announcement named Valiollah Seif, the governor of the Iranian Central Bank, as well as Ali Tarzali, the assistant director of the International Department at the Central Bank of Iran, and accused the pair of "assisting, sponsoring, or providing financial, material, or technological support for, or financial or other services" for the Revolutionary guard and Hezbollah.

In the second move in a week taking aim at the money networks of the Revolutionary Guards, or IRGC, the US Treasury also blacklisted another senior official, Ali Tarzali, who works in the central bank's global division.

It also blacklisted Ali Tarzali, assistant director of the global department of Iran's central bank, and chairman of Al-Bilad Islamic Bank, Aras Habib.

Tensions between Washington and Tehran has been running high since US President Donald Trump announced the withdrawal from the Iran nuclear deal and vowed to reinstate all nuclear-related sanctions on Iran.

The United States on Tuesday imposed sanctions on Iran's central bank governor and an Iraq-based bank for "moving millions of dollars" for Iran's elite Revolutionary Guard, as Washington seeks to cut off funding it says Tehran is using to fund militant activities overseas.

Sometimes, when the USA punishes people with sanctions, it prohibits Individuals or US firms from doing enterprise with them.

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"The United States will not permit Iran's increasingly brazen abuse of the global financial system", said US Treasury Secretary Steven Mnuchin. "The worldwide neighborhood should stay vigilant towards Iran's misleading efforts to supply monetary help to its terrorist proxies".

The European members of the deal - France, the United Kingdom and Germany - are trying to keep it alive without the U.S. Yet it's unclear that will be workable, because Trump has vowed to punish European companies that continue doing business with Iran despite re-imposed U.S. sanctions.

On May 10, the Treasury sanctioned nine Iranian individuals and entities for allegedly operating a currency-exchange network that transferred millions of dollars on behalf of the Quds Force.

For firms already operating in Iran, there is a period of 3 to 6 months to end the business, otherwise they will be denied access to the United States market.

Treasury Secretary Steve Mnuchin said Seif "covertly funneled" money from Iran's Islamic Revolutionary Guards Corps (IRGC) through Iraq's al-Bilad Islamic Bank in order to aid Hezbollah, the Associated Press reported.

"Iran will not violate the nuclear deal, but if the United States withdraws from the deal, they will surely regret it". Most lately, the USA has been involved concerning the position that Hezbollah fighters are taking part in in Syria to assist prop up President Bashar Assad.

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