USA imposes sanctions against governor of Iran's Central Bank

USA imposes sanctions against governor of Iran's Central Bank

Andrew Cummings
May 16, 2018

All of the sanctioned individuals were designated as global terrorists.

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.

The European members of the deal - France, the United Kingdom and Germany - are trying to keep it alive without the U.S. Yet it's unclear if that will be workable, because Trump has vowed to punish European companies that continue doing business with Iran despite reimposed U.S. sanctions. "Iran's Islamic Revolutionary Guard Corps bears full responsibility for the consequences of its reckless actions, and we call on the IRGC and its militant proxies, including Hezbollah, to take no further provocative steps". "The United States will not permit Iran's increasingly brazen abuse of the global financial system".

Typically, when the US punishes individuals with sanctions, it prohibits Americans or USA companies from doing business with them.

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.

Brooke Singman is a Politics Reporter for Fox News. Still, the United States said it was imposing "secondary sanctions" on the Iranian bank officials, which could significantly increase Iran's isolation from the global financial system.

It also blacklisted Ali Tarzali, assistant director of the global department of Iran's central bank, and chairman of Al-Bilad Islamic Bank, Aras Habib. Seif, whose position is equal to the Federal Reserve chairman within the USA, oversees main monetary selections in Iran.

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

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. US officers had been reaching out Tuesday to central banks in different nations within the Middle East and Europe to tell them of the sanctions and encourage them to right away freeze belongings the financial institution has overseas.

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