US hits Iran central bank governor Valiollah Seif with sanctions

US hits Iran central bank governor Valiollah Seif with sanctions

US hits Iran central bank governor Valiollah Seif with sanctions

Tuesday, The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) imposed sanctions on multiple entities labeled as terrorists, "all of whom have moved millions of dollars on behalf of the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) to Hizballah".

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 worldwide department at the central bank of Iran.

The Trump Administration has announced a new round of sanctions against Iran's financial institutions today, and singled out a handful of individuals, including the Iranian Central Bank's governor, as a "terrorist" for his banking activities.

"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.

The United States escalated its financial pressure on Iran by slapping terror sanctions on the head of its central bank Tuesday and barring anyone around the world from doing business with him, underscoring President Donald Trump's hard line after his withdrawal from the Iranian nuclear accord upset European allies. Any transactions that contain his signature might doubtlessly run afoul of the sanctions, creating a powerful deterrent to global governments or companies contemplating transactions involving Iran's central financial institution.

The US said that the sanctions on Seif did not extend to Iran's central bank itself. Add that trump intends to immediately impose sanctions against any foreign companies that will do business with Iran. These are part of a Trump administration Treasury campaign against the IRGC.

According to AFP, US officials are pushing for a "North Korea scenario" in Iran, a reference to severe sanctions that Washington believes brought Kim Jong-un to halt missile and nuclear testing.

Typically, when the US punishes individuals with sanctions, it prohibits Americans or USA companies from doing business with them. Seif and Tarzali are also being hit with secondary sanctions under Iranian Financial Sanctions Regulations (IFSR). USA officers had been reaching out Tuesday to central banks in different nations within the Middle East and Europe to tell them of the sanctions and encourage them to right away freeze belongings the financial institution has overseas.

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