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United States names Iran's central bank head 'specially designated global terrorist'

United States names Iran's central bank head 'specially designated global terrorist'

He argued it failed to address Iran's activities beyond its nuclear pursuits, such as its support for groups like Hezbollah, which is considered a terrorist organization by the U.S. "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.

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

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

There was no quick remark Tuesday evening from Iranian officers.

The U.S. also said it is imposing so-called secondary sanctions on Seif, meaning anyone who does business with him could be cut off from the U.S. financial system. Iranian media initially reported the decision based on reports in the foreign media. Still, the U.S. said it was imposing "secondary sanctions" on the Iranian bank officials, which could significantly increase Iran's isolation from the global financial system.

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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. Seif, whose position is equal to the Federal Reserve chairman within the US, oversees main monetary selections in Iran.

Al-Bilad Islamic Financial institution and its CEO and chairman, Aras Habib, had been additionally hit with USA 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.

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

The two were named "specially designated global terrorists" for allegedly assisting in funneling millions of dollars on behalf of Iran's Islamic Revolutionary Guards Corps' Quds Force (IRGC-QF) to support Lebanon's Hizballah militia, the OFAC said in a statement. Hezbollah fought a battle with Israel in 2006, and Israeli officers have been deeply involved concerning the prospect of one other confrontation.