United States impose sanctions on Iran's Central Bank Governor

The United States has imposed sanctions on the Governor and a senior official of the Central Bank of Iran, an Iraq-based bank, and its chairman, and a key Hizballah official for allegedly supporting terrorist activities.

They have moved millions of dollars on behalf of the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) to Hizballah, said the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). 

“Iran’s Central Bank Governor covertly funneled millions of dollars on behalf of the IRGC-QF through Iraq-based al-Bilad Islamic Bank to enrich and support the violent and radical agenda of Hizballah.  It is appalling, but not surprising, that Iran’s senior-most banking official would conspire with the IRGC-QF to facilitate funding of terror groups like Hizballah, and it undermines any credibility he could claim in protecting the integrity of the institution as a central bank governor,” said Treasury Secretary Steven T. Mnuchin.  

“The United States will not permit Iran’s increasingly brazen abuse of the international financial system.  The global community must remain vigilant against Iran’s deceptive efforts to provide financial support to its terrorist proxies”, he added.

The Treasury Secretary said today’s action cuts off Iran’s use of a critical banking network and follows last Thursday’s disruption of an IRGC-QF-associated currency exchange network procuring millions of dollars through the UAE.  Both actions seek to stifle Iran’s ability to abuse the U.S. and regional financial systems. 

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 U.S. sanctions that had been lifted under the JCPOA, including against the Central Bank of Iran.

You may find more details at the US Department of the Treasury