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USA slaps sanctions on Iran's central bank governor

USA slaps sanctions on Iran's central bank governor

It noted, however, that following President Donald Trump's withdrawal from the worldwide accord Iran struck with world powers in 2015, previously existing sanctions will be re-applied to "certain transactions" with Iran's Central Bank, including purchases or acquisition of USA dollars by the bank.

The U.S. Treasury is also imposing sanctions on the Iraq bank and its chairman.

The move against Seif came one week after President Donald Trump withdrew from the Iran nuclear accord and signaled plans to ratchet up pressure on the Iranian economy, and especially on the economic power of the Revolutionary Guards. Washington is also unhappy with Tehran's support of organizations such as Hezbollah. Trump called the deal unfair and doubted that it would limit the nuclear ambitions of Tehran. Habib and the bank are also subject to secondary sanctions.

On Thursday, the Treasury announced sanctions against a "large-scale" currency exchange network serving the Revolutionary Guards, hitting six individuals and three companies at the centre of the network.

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

Iran Central Bank Governor Valiollah Seif and Ali Tarzali, the assistant director of the International Department at the bank, were designated as global terrorists Tuesday.

Though the sanctions don't technically lengthen to the central financial institution itself, they might considerably improve Iran's isolation from the worldwide monetary system.

According to AFP, US officials are pushing for a "North Korea scenario" in Iran, a reference to severe sanctions that Washington believes brought Kim Jong-un to halt missile and nuclear testing. "The worldwide neighborhood should stay vigilant towards Iran's misleading efforts to supply monetary help to its terrorist proxies". US officials were reaching out Tuesday to central banks in other countries in the Middle East and Europe to inform them of the sanctions and encourage them to immediately freeze assets the bank has overseas. Most recently, the US has been concerned about the role that Hezbollah fighters are playing in Syria to help prop up President Bashar Assad. These are part of a Trump administration Treasury campaign against the IRGC. Hezbollah fought a war with Israel in 2006, and Israeli officials have been deeply concerned about the prospect of another confrontation. And in 2015, the US focused the governor of Syria's central financial institution.


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