U.S. hits Iran central bank governor with sanctions

Aaron Brown
May 16, 2018

The Treasury Division accused the boys of secretly funneling hundreds of thousands of by way of an Iraqi financial institution to assist Hezbollah, the militant community that the US considers a terrorist group.

Beginning on August 7, the United States will impose sanctions "on the purchase or acquisition of U.S. dollars banknotes by the government of Iran", the U.S. Treasury Department said. Any transactions that contain his signature might doubtlessly run afoul of the sanctions, creating a powerful deterrent to global governments or companies contemplating transactions involving Iran's central financial institution.

The announcement also includes Aras Habib, the Chairman and Chief Executive of Iraq based Al-Bilad Islamic Bank on similar charges.

The sanctions against the high-level Iranian official are the first since US President Donald Trump announced his withdrawal from the 2015 nuclear deal, however the new administration has both drafted and passed several new sanctions bills as part of a more aggressive stance towards Hezbollah.

"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 Hezbollah, and it undermines any credibility he could claim in protecting the integrity of the institution as a central bank governor", Mnuchin said in a statement. Add that trump intends to immediately impose sanctions against any foreign companies that will do business with Iran.

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

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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 worldwide neighborhood should stay vigilant towards Iran's misleading efforts to supply monetary help to its terrorist proxies".

At the time, the U.S. singled out the Central Bank of Iran as "complicit" in the operation, foreshadowing Tuesday's action.

Speaking in Brussels, Iran's Foreign Minister Javad Zarif called the sanctions against Seif illegal.

The Treasury said Seif covertly moved "hundreds of millions of dollars" to "Hezbollah" from the IRGC via Al-Bilad Islamic Bank.

The U.S. also sanctioned a Hezbollah official, Muhammad Qasir, whom the Treasury Department accused of working with Iran's Islamic Revolutionary Guards Corps-Quds Force to transfer funds to the Lebanese militant group. Hezbollah fought a battle with Israel in 2006, and Israeli officers have been deeply involved concerning the prospect of one other confrontation.

Other reports by Free-Prsite

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