US Hits Iran Central Bank Governor With Sanctions

US Imposes New Sanctions on Iran as 'Part of Aggressive Campaign' Against IRGC

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.

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

The Treasury Department said it had imposed sanctions on Valiollah Seif, the bank's current governor, and another senior official, Ali Tarzali, the assistant director of the bank's worldwide department, labeling them both as "specially designated global terrorists".

The statement said the designations "do not extend" to the Central Bank of Iran. "The United States will not permit Iran's increasingly brazen abuse of the worldwide financial system".

The department said the sanctions would not immediately affect central bank transactions. Seif, whose position is equal to the Federal Reserve chairman within the US, oversees main monetary selections in Iran.

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Though the sanctions don't technically lengthen to the central financial institution itself, they might considerably improve Iran's isolation from the worldwide monetary system. "The global community must remain vigilant against Iran's deceptive efforts to provide financial support to its terrorist proxies".

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

The moves come as Trump's administration, after deeming the 2015 nuclear deal insufficiently tough on Iran, seeks to construct a global coalition to place enough pressure on Tehran that it comes back to the negotiating table to strike a "better deal".

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. Most lately, the USA has been involved concerning the position that Hezbollah fighters are taking part in in Syria to assist prop up President Bashar Assad.

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

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