Treasury Dept. imposes sanctions on Iran Central Bank governor

Treasury Dept. imposes sanctions on Iran Central Bank governor

The Treasury labeled the sanctioned individuals under a list of "Specially Designated Global Terrorists" via a presidential order that targets terrorists. Its actions are meant to build on President Trump's decision to withdraw the United States from the Iran Nuclear Deal (the Joint Comprehensive Plan of Action).

In announcing his plan to abandon the Iran nuclear deal last week, President Donald Trump said he planned to reintroduce the highest level of economic pressure on the Iranian regime - an indication that Tuesday's sanctions are likely just the tip of the iceberg as the administration works to tighten the vice on Tehran. The U.S. Treasury Department accused the men of secretly funnelling millions of dollars through an Iraqi bank to help Hezbollah, the Iran-backed militant network that the U.S. considers a terrorist group.

"The United States will not permit Iran's increasingly brazen abuse of the global financial system", Mnuchin said in a statement Tuesday.

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

Brooke Singman is a Politics Reporter for Fox News. Seif, whose position is equal to the Federal Reserve chairman within the USA, oversees main monetary selections in Iran.

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

US Treasury Secretary Steven Mnuchin said on Tuesday Seif covertly moved millions of dollars on behalf of the IRGC through Al-Bilad bank "to enrich and support the violent and radical agenda of Hezbollah". 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. 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.

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".

Hezbollah fought a war with Israel in 2006, and Israeli officials have been deeply concerned about the prospect of another confrontation.

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