World News

United States hits head of Iran's central bank with terror sanctions

United States hits head of Iran's central bank 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 Hizballah, and it undermines any credibility he could claim in protecting the integrity of the institution as a central bank governor", Treasury Secretary Steven Mnuchin said.

"OFAC is designating Valiollah Seif, Iran's Central Bank Governor, for assisting, sponsoring, or providing financial, material, or technological support for, or financial or other services to or in support of, the IRGC-QF", read a portion of the Treasury's statement on new sanctions.

"The United States will not permit Iran's increasingly brazen abuse of the worldwide financial system", Treasury Secretary Steven Mnuchin said.

The move cuts off Iran's use of a critical banking network, he said.

British, French and German foreign ministers met in Brussels on Tuesday to try to find a way to save the nuclear deal without the United States, but appeared hard-pressed over how their companies could continue doing business with Iran once Washington begins to reimpose sanctions.

The United States on Tuesday designated the head of Iran's central bank a "specially designated global terrorist". Add that trump intends to immediately impose sanctions against any foreign companies that will do business with Iran. The U.S. said that the sanctions did not extend to Iran's central bank itself. US officers had been reaching out Tuesday to central banks in different nations within the Middle East and Europe to tell them of the sanctions and encourage them to right away freeze belongings the financial institution has overseas. On this case, the USA selected to additionally impose "secondary sanctions", which additionally apply to non-Individuals and non-U.S. firms.

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

Seif, as the central bank's governor, has helped guide Iran's economy through the web of sanctions in place on that country.

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

President Trump in April said Iran would pay a "price" if it threatens the U.S. Those funds were then used to "enrich and support the violent and radical agenda of Hezbollah", Treasury said.

In the second move in a week taking aim at the money networks of the Revolutionary Guards or IRGC, the US Treasury also blacklisted a second central bank official, Iraq's Al-Bilad Islamic Bank and its top two executives, and a liaison between IRGC and Hezbollah, which Washington has designated an worldwide terrorist group.


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