US Treasury Sanctions Top Officials At Central Bank Of Iran

US Treasury Sanctions Top Officials At Central Bank Of Iran

US Treasury Sanctions Top Officials At Central Bank Of Iran

WASHINGTON-The Treasury Department imposed sanctions Tuesday on the governor of Iran's central bank and another senior bank official, accusing them of funneling millions of dollars to Hezbollah, the Lebanese militia designated as a terror group by the U.S.

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

OFAC also designated Chairman and Chief Executive of Al-Bilad Islamic Bank Aras Habib for assisting the IRGC-QF, facilitating the movement of funds from Tehran to Hizballah.

It noted, however, that following President Donald Trump's withdrawal from the worldwide accord Iran struck with world powers in 2015, previously existing sanctions will be re-applied to "certain transactions" with Iran's Central Bank, including purchases or acquisition of USA dollars by the bank.

Its actions are meant to build on President Trump's decision to withdraw the United States from the Iran Nuclear Deal (the Joint Comprehensive Plan of Action).

And on November 5, additional sanctions will be reimposed on persons "knowingly engaging in certain significant transactions" with the central bank.

Iran says new sanctions imposed on it by Washington are an attempt to derail efforts to save the 2015 nuclear deal by its remaining signatories following the USA withdrawal from the accord.

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

President Trump in April said Iran would pay a "price" if it threatens the U.S.

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

"Iran will not violate the nuclear deal, but if the United States withdraws from the deal, they will surely regret it".

It is, however, reflective of Trump Administration eagerness to ramp up sanctions on Iran, and hopes that they can intimidate the world into going along with unilateral United States sanctions. That means that anyone, in any country, who does business with Seif or Tarzali could themselves be punished with sanctions, cutting them off from the US financial system.

The exact ramifications of the sanctions for Iran's economy were not immediately clear.

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. Hezbollah fought a war with Israel in 2006, and Israeli officials have been deeply concerned about the prospect of another confrontation. Earlier this year, the Trump administration slapped sanctions on the deputy governor of Russia's central bank, Alexander Torshin.

Though it's uncommon to sanction central financial institution officers, the US has carried out it earlier than.

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