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

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

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

The United States Treasury imposed sanctions on Tuesday on Valiollah Seif, the governor of the Central Bank of Iran. Together the actions "seek to stifle Iran's ability to abuse the US and regional financial systems", according to Treasury.

President Trump last week pulled out of the Obama-era Iran nuclear agreement.

"The United States will withdraw from the Iran nuclear deal", Trump said, calling the deal "defective at its core" and a "disastrous deal" that gave the Iranian "regime of great terror" billions of dollars. "The global community must remain vigilant against Iran's deceptive efforts to provide financial support to its terrorist proxies", Secretary of the Treasury Steven Mnuchin asserted.

The department said the sanctions against Seif and Tarzali would not immediately affect central bank transactions.

The move cuts off Iran's use of a critical banking network, he said.

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. On this case, the USA selected to additionally impose "secondary sanctions", which additionally apply to non-Individuals and non-U.S. firms. Beginning Aug. 7, the USA will impose sanctions on the purchase or acquisition of US dollar banknotes by Iran's government, the Treasury Department said.

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There was no immediate comment Tuesday night from Iranian officials. Iranian media initially reported the choice based mostly on reviews within the worldwide media.

Trump had threatened for more than a year to abandon the deal. Habib and the bank are also subject to secondary sanctions.

Seif, a profession banker, grew to become the pinnacle of Iran's Central Financial institution in 2013 underneath President Hassan Rouhani, who shepherded the nuclear deal.

The Treasury said that Seif undermined the central bank's credibility by routing millions of dollars from the Quds Force, the expeditionary unit of Iran's hard-line Revolutionary Guards, to al-Bilad Islamic Bank, which is based in Iraq. These funds had been then used to "enrich and help the violent and radical agenda of Hezbollah", Treasury mentioned.

It also blacklisted Ali Tarzali, assistant director of the worldwide department of Iran's central bank, and chairman of Al-Bilad Islamic Bank, Aras Habib.

Lebanon's Hezbollah, the highly effective Shiite guerrilla power that can also be a outstanding political participant in Lebanon, has lengthy helped perform Iran's worldwide coverage targets within the Arabic-speaking world.

President Trump in April said Iran would pay a "price" if it threatens the U.S. Hezbollah fought a war with Israel in 2006, and Israeli officials have been deeply concerned about the prospect of another confrontation.

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