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US imposes sanctions against Iran central bank governor

16 May 2018

The new sanctions are part of the administration's efforts to address Tehran's "malign influence" in the region, an effort that, in conjunction with President Donald Trump's decision to remove the USA from the Iran nuclear deal and Monday's controversial opening of the U.S. embassy in Jerusalem, has led to a spike in tensions across the Middle East.

According to the Treasury's statement, the latest sanctions are a part of US President Donald Trump's "aggressive campaign" against the IRGS and build on the US decision to withdraw from Iran nuclear deal.

Sometimes, when the USA punishes people with sanctions, it prohibits Individuals or US firms from doing enterprise with them.

Seif, as the central bank's governor, has helped guide Iran's economy through the web of sanctions in place on that country. "The global community must remain vigilant against Iran's deceptive efforts to provide financial support to its terrorist proxies".

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The US says it's also imposing so-called secondary sanctions on Seif.

The U.S. actions send an ominous warning to European capitals, still reeling from Trump's withdrawal from the deal the U.S., Iran and world powers struck in 2015. Iranian media initially reported the choice based mostly on reviews within the global media.

And on November 5, additional sanctions will be reimposed on persons "knowingly engaging in certain significant transactions" with the central bank. Half of Iran's lawmakers have written to President Hassan Rouhani demanding the removal of the central bank chief, accusing him of mismanaging the banking industry and currency markets as the rial weakened. Seif often visits Washington to attend conferences of the Worldwide Financial Fund.

The US has imposed sanctions against governor of Iran's central bank Valiollah Seif and Iraq-based Al-Bilad Islamic Bank for transferring "millions of dollars" for Iran's Islamic Revolution Guards Corps (IRGC), Press TV reported. Those funds were then used to "enrich and support the violent and radical agenda of "Hezbollah"," Treasury said.

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The sanctions targeting Iran's central bank executives are some of the first actions by Trump's administration since pulling out of the deal to start ramping up that economic pressure.

The blacklisted head of Iraq's Al-Bilad Islamic Bank was named as Aras Habib, who ran in last weekend's general elections as a candidate on the slate of Prime Minister Haidar al-Abadi, whose government has been supported by the United States and the worldwide community.

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. Most recently, the US has been concerned about the role that Hezbollah fighters are playing in Syria to help prop up President Bashar al-Assad. And in 2015, the US focused the governor of Syria's central financial institution.

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US imposes sanctions against Iran central bank governor