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U.S. adds head of Iran's central bank to terrorist list, imposes sanctions

U.S. adds head of Iran's central bank to terrorist list, imposes sanctions

"It is appalling, but not surprising, that Iran's senior-most banking official would conspire with the IRGC-QF to facilitate funding of terror groups like Hizballah, and it undermines any credibility he could claim in protecting the integrity of the institution as a central bank governor", Treasury Secretary Steven Mnuchin said.

Tuesday's action seeks to cut off what the USA called a "critical" banking network for Iran, and deny those blacklisted access to the global financial system.

The statement said the designations "do not extend" to the Central Bank of Iran.

Tensions between Washington and Tehran has been running high since US President Donald Trump announced the withdrawal from the Iran nuclear deal and vowed to reinstate all nuclear-related sanctions on Iran.

That deal, reached in 2015 and formally known as the Joint Comprehensive Plan of Action (JCPOA), sought to curb Iran's pursuit of a nuclear arsenal by providing significant sanctions relief for the country.

Typically, when the USA punishes individuals with sanctions, it prohibits Americans or US companies from doing business with them. On this case, the US selected to additionally impose "secondary sanctions", which additionally apply to non-Individuals and non-U.S. firms. 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. 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 USA financial system.

The U.S. sanctioned nine Iranian citizens and companies on Thursday for allegedly operating a currency exchange network that - with the help of Iran's central bank - transferred millions of U.S. dollars on behalf of the Quds force.

Trump had threatened for more than a year to abandon the deal. Most recently, the US has been concerned about the role that Hezbollah fighters are playing in Syria to help prop up President Bashar Assad. Hezbollah fought a battle with Israel in 2006, and Israeli officers have been deeply involved concerning the prospect of one other confrontation. And in 2015, the US focused the governor of Syria's central financial institution.

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