US Imposes Sanctions on Iran Central Bank Governor over Terror Links

US Imposes Sanctions on Iran Central Bank Governor over Terror Links

The United States classifies Lebanon's Shi'ite Muslim movement Hezbollah, which is backed by Iran, as a terrorist organization.

The exact ramifications of the sanctions for Iran's economy were not immediately clear.

The U.S. Treasury also blacklisted Ali Tarzali, assistant director of the global department of Iran's central bank, and the chairman of Al-Bilad Islamic Bank, Aras Habib.

The action comes a week after US President Donald Trump announced that the US was pulling out of the Iran nuclear deal and reimposing sanctions that were in place before the 2015 agreement.

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

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

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"The United States will withdraw from the Iran nuclear deal", Trump said, calling the deal "defective at its core" and a "disastrous deal" that gave the Iranian "regime of great terror" billions of dollars.

On Thursday, the Treasury announced sanctions against a "large-scale" currency exchange network serving the Revolutionary Guards, hitting six individuals and three companies at the centre of the network.

The US has imposed sanctions against governor of Iran's central bank Valiollah Seif and Iraq-based Al-Bilad Islamic Bank for transferring "millions of dollars" for Iran's Islamic Revolution Guards Corps (IRGC), Press TV reported. While Iran's regular military, the Iranian Army or the Artesh, exists to defend the nation's borders from outside enemies, the IRGC exists specifically to counter domestic affairs in order to protect the country's radical Islamic system. "The global community must remain vigilant against Iran's deceptive efforts to provide financial support to its terrorist proxies", Mnuchin said on Tuesday.

President Trump in April said Iran would pay a "price" if it threatens the U.S. On Tuesday, Iranian Foreign Minister Mohammad Javad Zarif was meeting in Brussels with the top French, British and German diplomats as the Europeans seek to keep Iran from bailing on the deal.

"Seif has conspired with the IRGC-QF to move millions of dollars through the global 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.

Lebanon's Hezbollah, the powerful Shiite guerrilla force that is also a prominent political player in Lebanon, has long helped carry out Iran's foreign policy objectives in the Arabic-speaking world. Hezbollah fought a battle with Israel in 2006, and Israeli officers have been deeply involved concerning the prospect of one other confrontation.

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