US Imposes Sanctions on Iran Central Bank Governor over Terror Links

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

"Seif has conspired with the IRGC-QF to move millions of dollars through the worldwide financial system in a variety of foreign currencies to allow the IRGC-QF to fund its activities overseas", the U.S. Treasury Department said in a statement.

"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 U.S. sanctions that had been lifted under the JCPOA, including against the Central Bank of Iran", Tuesday's statement said.

Treasury's Office of Foreign Assets Control announced sanctions on Valiollah Seif, Iran's central bank governor, and Ali Tarzali, the assistant director of the worldwide department at the central bank of Iran. Officials said they diverted millions on behalf of the Islamic Revolutionary Guard Corps-Qods Force to the Shi'a militant group Hezbollah.

The Treasury's Office of Foreign Assets Control (OFAC) on May 15 announced sanctions against Valiollah Seif and another senior official in the Central Bank of Iran, Ali Tarzali. The Iraqi bank and its chairman is also being punished with sanctions. Seif is the governor of the Iranian central bank.

According to the Treasury's statement, the latest sanctions are a part of US President Donald Trump's "aggressive campaign" against the IRGS and build on the US decision to withdraw from Iran nuclear deal.

The sanctions targeting Iran's central bank executives are some of the first actions by Trump's administration since pulling out of the deal to start ramping up that economic pressure.

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. 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 United States will not permit Iran's increasingly brazen abuse of the worldwide financial system", Treasury Secretary Steven Mnuchin said. "The worldwide neighborhood should stay vigilant towards Iran's misleading efforts to supply monetary help to its terrorist proxies". 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.

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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