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US imposes sanctions against Iran central bank governor
16 May 2018, 02:55 | Cesar Cruz
US Imposes New Sanctions on Iran as 'Part of Aggressive Campaign' Against IRGC
The Treasury said Seif covertly moved "hundreds of millions of dollars" to Hezbollah from IRGC via Al-Bilad Islamic Bank.
The U.S. Treasury Department imposed sanctions Tuesday on Iran's central bank governor and another senior official in the bank for providing support for terrorist activities.
The Treasury also blacklisted assistant director of the worldwide department of Iran's central bank Ali Tarzali and the chairman of Al-Bilad Islamic Bank Aras Habib. "Iran's Islamic Revolutionary Guard Corps bears full responsibility for the consequences of its reckless actions, and we call on the IRGC and its militant proxies, including Hezbollah, to take no further provocative steps". He's being named a "specially designated global terrorist".
"The United States will not permit Iran's increasingly brazen abuse of the worldwide financial system", said US Treasury Secretary Steven Mnuchin.
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. According to the Treasury, the anti-Iran sanctions cuts off Tehran's use of critical banking network.
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President Trump last week pulled out of the Obama-era Iran nuclear agreement.
It's unclear whether that will be workable as Trump has vowed to punish European companies that continue doing business with Iran despite reimposed USA sanctions. The U.S.is expected to impose new sanctions on Iran later this year.
Seif, as the central bank's governor, has helped guide Iran's economy through the web of sanctions in place on that country. Most lately, the US has been involved concerning the position that Hezbollah fighters are taking part in in Syria to assist prop up President Bashar Assad.
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