US Hits Iranian Central Bank Governor With Terror Sanctions

  • US Hits Iranian Central Bank Governor With Terror Sanctions

US Hits Iranian Central Bank Governor With Terror Sanctions

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.

"The United States will not permit Iran's increasingly brazen abuse of the worldwide financial system", Treasury Secretary Steven MnuchinSteven Terner MnuchinTrump offers hope for peace in recorded remarks at US Embassy opening in Jerusalem The Hill's Morning Report - Sponsored by CVS Health - Trump makes history with foreign policy decisions The Hill's Morning Report - Sponsored by FICO - Paul Ryan's rough ride MORE said in a statement.

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. The US said that the sanctions on Seif did not extend to Iran's central bank itself.

The move against Seif came one week after President Donald Trump withdrew from the Iran nuclear accord and signalled plans to ratchet up pressure on the Iranian economy, and especially on the economic power of the Revolutionary Guards.

The action comes a week after President Donald Trump announced that the us was pulling out of the Iran nuclear deal and reimposing sanctions that were in place before the 2015 agreement.

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.

Sometimes, when the US punishes people with sanctions, it prohibits Individuals or USA firms from doing enterprise with them. In this case, the US chose to also impose "secondary sanctions", which also apply to non-Americans and non-U.S. companies.

The United States slapped sanctions Tuesday on Valiollah Seif, the governor of the Central Bank of Iran, accusing him of helping the country's Revolutionary Guard Corps transfer millions of dollars to Lebanon's Hezbollah. 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 USA has been concerned about the role that Hezbollah fighters are playing in Syria to help prop up President Bashar Assad.

Though it's uncommon to sanction central financial institution officers, the US has carried out it earlier than. And in 2015, the USA targeted the governor of Syria's central bank.