US Hits Iranian Central Bank Governor With Terror Sanctions

May 16, 2018, 06:18
US Hits Iranian Central Bank Governor With Terror Sanctions

Valiollah Seif, pictured, the governor of the Iranian central bank, was named a "specially designated global terrorist" by the US, along with another senior official, Ali Tarzali.

"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".

The U.S. faced a May 12 deadline to decide whether or not to remain in the Iran nuclear deal. Iranian media initially reported the choice based mostly on reviews within the worldwide media. The expected to impose new sanctions on Iran later this year.

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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. Still, the USA said it was imposing "secondary sanctions" on the Iranian bank officials, which could significantly increase Iran's isolation from the global financial system.

The U.S. Treasury Department also issued economic sanctions against another top official, in addition to Seif.

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

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"Today, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) imposed sanctions on the governor and a senior official of the Central Bank of Iran, an Iraq-based bank and its chairman, and a key Hezbollah official, all of whom have moved millions of dollars on behalf of the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) to Hezbollah", the statement said. These funds had been then used to "enrich and help the violent and radical agenda of Hezbollah", Treasury mentioned.

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.

For firms already operating in Iran, there is a period of 3 to 6 months to end the business, otherwise they will be denied access to the United States market. Most lately, the US has been involved concerning the position that Hezbollah fighters are taking part in in Syria to assist prop up President Bashar Assad.

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