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United States sanctions financial leaders in Iran, Iraq over Hezbollah funds
16 May 2018, 02:56 | Kelvin Horton
ImageValiollah Seif the governor of Iran's central bank at the Council on Foreign Relations in Washington D.C.
The Treasury's Office of Foreign Assets Control (OFAC) on May 15 announced sanctions against Valiollah Seif and another senior official in the Central Bank of Iran, Ali Tarzali.
The Treasury Division accused the boys of secretly funneling hundreds of thousands of by way of an Iraqi financial institution to assist Hezbollah, the militant community that the USA considers a terrorist group.
The department noted that sanctions did not extend to Iran's central bank but would affect certain transactions by Iran, including those involving United States dollars. They were named "specially designated global terrorists" for allegedly assisting Iran's Islamic Revolutionary Guards Corps-Quds Force to support Hezbollah.
"The US won't allow Iran's more and more brazen abuse of the worldwide monetary system", Treasury Secretary Steven Mnuchin mentioned.
Typically, when the US punishes individuals with sanctions, it prohibits Americans or USA companies from doing business with them.
Treasury's efforts to strangle Iran's illicit financial networks follow a decision by President Donald Trump to withdraw from the Joint Comprehensive Plan of Action, more commonly known as the Iran deal.
Brooke Singman is a Politics Reporter for Fox News.
The US says it's also imposing so-called secondary sanctions on Seif.
Seif is also under attack inside Iran.
Those funds were then used to "enrich and support the violent and radical agenda of Hezbollah", the Treasury said. Half of Iran's lawmakers have written to President Hassan Rouhani demanding the removal of the central bank chief, accusing him of mismanaging the banking industry and currency markets as the rial weakened.
At the time, the USA singled out the Central Bank of Iran as "complicit" in the operation, foreshadowing Tuesday's action.
Al-Bilad Islamic Bank and its CEO and chairman, Aras Habib, were also hit with United States sanctions, as was Muhammad Qasir, who the Treasury said is a "Hezbollah" official who has been a "critical conduit" for transferring funds to "Hezbollah" from the Revolutionary Guards.
Lebanon's Hezbollah, the highly effective Shiite guerrilla power that can also be a outstanding political participant in Lebanon, has lengthy helped perform Iran's global coverage targets within the Arabic-speaking world.
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