World News

US Sanctions Iran's Central Bank Governor, Alleges Hezbollah Ties

US Sanctions Iran's Central Bank Governor, Alleges Hezbollah Ties

President Donald Trump recently took the US out of the nuclear deal with Iran in part because of the country's suspected funding of regional terrorist groups.

The new sanctions cut off Iran's access to a "critical banking network", the Treasury Department said in a statement, adding that it seeks to "stifle Iran's ability to abuse the USA and regional financial system". He argued it failed to address Iran's activities beyond its nuclear pursuits, such as its support for groups like Hezbollah, which is considered a terrorist organization by the U.S.

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.

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

Earlier this month, Iranian President Hassan Rouhani said in a live broadcast that if President Trump follows through with his promise to pull out of the Iran nuclear deal, the United States "will surely regret it".

The United States on Tuesday designated the head of Iran's central bank a "specially designated global terrorist". USA 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.

The sanctions had been anticipated to be adopted by extra U.S actions within the coming weeks, because the Trump administration works to dismantle the principle banking conduits exploited by Iran and its Revolutionary Guards to transform Iranian rials into euros or .

There was no quick remark Tuesday evening from Iranian officers.

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Iranian Foreign Minister Mohammad Javad Zarif said the meeting had been a good start, but he wanted to see guarantees materialise.

The sanction came days after US President Donald Trump pulled his country out of the JCPOA. The threat of reimposition of sanctions already has prompted angry rejoinders from governments the U.S.is otherwise allied with and that continue to abide by the nuclear deal, among them Britain, France and Germany. Secondary sanctions also apply to non-Americans and non-US companies.

Typically, when the USA punishes individuals with sanctions, it prohibits Americans or US companies from doing business with them.

Iran has described the sanctions as illegal and has warned that if talks to rescue the accord fail, it would ramp up its nuclear program to a level more advanced than before. Seif often visits Washington to attend conferences of the Worldwide Financial Fund.

In a 2016 assembly of the Council on International Relation in Washington, Seif mentioned Iran achieved "virtually nothing" from the deal.

The Office also blacklisted Al-Bilad Islamic Bank in Iraq and its chairman, Aras Habib, claiming he assisted the IRGC-QF in moving funds from Tehran to Hezbollah.

Treasury Secretary Steven Mnuchin (mih-NOO'-shin) says Seif "covertly funneled" money from the Iran's Revolutionary Guards through al-Bilad Islamic Bank in Iraq to help Hezbollah.


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