US Sanctions Iran's Central Bank Governor, Alleges Hezbollah Ties

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

Seif is the governor of the Iranian central bank.

The U.S. Treasury Department also issued economic sanctions against another top official, in addition to Seif.

The Treasury Department said it had imposed sanctions on Valiollah Seif, the bank's current governor, and another senior official, Ali Tarzali, the assistant director of the bank's worldwide department, labeling them both as "specially designated global terrorists".

Valiollah Seif, the head of Iran's Central Bank, allegedly sent money to the IRGC-QF via the Iraq-based al-Bilad Islamic Bank to support Hezbollah's "violent and radical agenda".

"The United States will not permit Iran's increasingly brazen abuse of the worldwide financial system", Treasury Secretary Steven MnuchinSteven Terner MnuchinTrump offers hope for peace in recorded remarks at US Embassy opening in Jerusalem The Hill's Morning Report - Sponsored by CVS Health - Trump makes history with foreign policy decisions The Hill's Morning Report - Sponsored by FICO - Paul Ryan's rough ride MORE said in a statement.

Tuesday's action cutting off a critical banking network for Iran followed disruption of a currency network last week that is associated with IRGC-QF.

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The United States has imposed sanctions on the governor of Iran's central bank, accusing him of providing support for terrorist activities. The Iraqi bank and its chairman also are being punished with sanctions.

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. 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 USA financial system. These secondary sanctions affect individuals' ability to open or maintain a correspondent or a payable-through account in the United States. 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.

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

President Trump in April said Iran would pay a "price" if it threatens the U.S.

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.

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