United States hits Iran central bank governor with sanctions

ImageValiollah Seif the governor of Iran's central bank at the Council on Foreign Relations in Washington D.C.

Valiollah Seif, the governor of the Iranian central financial institution, was named a "specifically designated global terrorist" together with one other senior official, Ali Tarzali, who works within the central financial institution's worldwide division.

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

The U.S. also sanctioned a Hezbollah official, Muhammad Qasir, whom the Treasury Department accused of working with Iran's Islamic Revolutionary Guards Corps-Quds Force to transfer funds to the Lebanese militant group.

Beginning August 7, the US will impose sanctions on the purchase or acquisition of US dollar banknotes by Iran's government, the US Treasury Department said.

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

"The United States will not permit Iran's increasingly brazen abuse of the global financial system". That means that anyone, in any country, who does business with Seif or Tarzali could themselves be punished with sanctions, cutting them off from the US financial system.

The strikes come as Trump's administration, after deeming the 2015 nuclear deal insufficiently robust on Iran, seeks to assemble a worldwide coalition to put sufficient strain on Tehran that it comes again to the negotiating desk to strike a "higher deal".

Brooke Singman is a Politics Reporter for Fox News.

For firms already operating in Iran, there is a period of 3 to 6 months to end the business, otherwise they will be denied access to the U.S. market.

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.

On may 8 the President of the United States Donald trump announced the withdrawal from the agreement on Iran's nuclear program and has announced new sanctions against the Iranian regime.

Trump had threatened for more than a year to abandon the deal.

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.

The US Treasury's Office of Foreign Assets Control announced sanctions against Valiollah Seif, Iran's central bank governor, and Ali Tarzali, the assistant director of the global department at the central bank of Iran. Most recently, the US has been concerned about the role that Hezbollah fighters are playing in Syria to help prop up President Bashar Assad.

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