Published: Wed, May 16, 2018
Business | By Kate Woods

U.S. imposes sanctions against Iran central bank governor

U.S. imposes sanctions against Iran central bank governor

"These actions build upon President Trump's May 8 decision to cease the United States' participation in the Joint Comprehensive Plan of Action (JCPOA) and begin reimposing USA sanctions that had been lifted under the JCPOA, including against the Central Bank of Iran", Tuesday's statement said.

Iraq-based Al-Bilad Islamic Bank has also been included in the sanction list for allegedly moving millions of dollars on behalf of the IRGC to Hezbollah.

The Treasury mentioned that Seif undermined the central financial institution's credibility by routing hundreds of thousands of from the Quds Pressure, the expeditionary unit of Iran's hard-line Revolutionary Guards, to al-Bilad Islamic Financial institution, which relies in Iraq.

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.

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The move comes a week after U.S. President Donald Trump announced that the United States was pulling out of the nuclear deal between Tehran and world powers.

This is already the second batch of US' anti-Iranian sanctions since Trump's announcement on the pullout from the Iran nuclear deal, formally known as the Joint Comprehensive Plan of Actions (JCPOA).

"The United States will not permit Iran's increasingly brazen abuse of the worldwide financial system", Treasury Secretary Steven MnuchinSteven Terner MnuchinTrump offers hope for peace in recorded remarks at US Embassy opening in Jerusalem The Hill's Morning Report - Sponsored by CVS Health - Trump makes history with foreign policy decisions The Hill's Morning Report - Sponsored by FICO - Paul Ryan's rough ride MORE said in a statement. "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.

Last week, the White House issued a statement condemning Iran's Revolutionary Guard Corps.

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

Hits Valiollah Seif with terror sanctions.

. Secondary sanctions also apply to non-Americans and non-U.S. companies. Those funds were then used to "enrich and support the violent and radical agenda of "Hezbollah", Treasury said.

Al-Bilad Islamic Financial institution and its CEO and chairman, Aras Habib, had been additionally hit with US sanctions, as was Muhammad Qasir, who the Treasury mentioned is a Hezbollah official who has been a "important conduit" for transferring funds to Hezbollah from the Revolutionary Guards. 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.

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