United States imposes sanctions against governor of Iran's Central Bank

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The Treasury Department named Valiollah Seif a "specially designated global terrorist" who is being accused of helping transfer millions of dollars to Hezbollah, the Iran-backed militant group. According to the Treasury, the anti-Iran sanctions cuts off Tehran's use of critical banking network.

The move comes a week after U.S. President Donald Trump announced that the United States was pulling out of the nuclear deal between Tehran and world powers. Any transactions that contain his signature might doubtlessly run afoul of the sanctions, creating a powerful deterrent to worldwide governments or companies contemplating transactions involving Iran's central financial institution.

"The United States will not permit Iran's increasingly brazen abuse of the global financial system", Mnuchin said in a statement Tuesday. "The global community must remain vigilant against Iran's deceptive efforts to provide financial support to its terrorist proxies".

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Last week, the White House issued a statement condemning Iran's Revolutionary Guard Corps. Still, the United States said it was imposing "secondary sanctions" on the Iranian bank officials, which could significantly increase Iran's isolation from the global financial system.

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

And on November 5, additional sanctions will be reimposed on persons "knowingly engaging in certain significant transactions" with the central bank.

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Seif, a profession banker, grew to become the pinnacle of Iran's Central Financial institution in 2013 underneath President Hassan Rouhani, who shepherded the nuclear deal. These funds had been then used to "enrich and help the violent and radical agenda of Hezbollah", Treasury mentioned.

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". 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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