On November 5 of this year, the United States re-imposed sanctions against Iran. This involved many moving parts within the United States’ government and in other governments around the world but importantly, it involved US sanctions against Iran’s banking sector. The US Treasury Department stated: “In its largest ever single-day action targeting the Iranian regime, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned more than 700 individuals, entities, aircraft, and vessels.”
Treasury Undersecretary Sigal Mandelker stated: “As the Iranian people suffer from fiscal mismanagement and a plummeting rial, the Iranian regime abuses the country’s banking system to enrich its elite and finance repressive state institutions. The Islamic Revolutionary Guard Corps – Qods Force and other destabilizing entities leverage their access to the global financial system to fund proxies fighting in Syria, Iraq, and Yemen, subsidize the proliferation of WMD or their means of delivery, and arm those who abuse the human rights of Iranian citizens. This action is aimed at cutting off Iranian banks that facilitate Iran’s domestic repression and foreign adventurism from the international financial system, and will highlight for the world the true nature of the regime’s abuse of its domestic banking system.”
Importance of banking sector
Clearly, the banking sector is a top priority of the sanctions. Two of OFAC’s banking designations are notable: The Ghadir Investment Company and Bank Melli. Treasury’s action against Iran’s banking sector additionally includes the designation of dozens of other Iranian banks and their foreign and domestic subsidiaries.
Read more: English Alarabiya
Iran Briefing | News Press Focus on Human Rights Violation by IRGC, Iran Human Rights
Feb 18, 2019 Comments Off on Chinese and Iranian Hackers Renew Their Attacks on U.S. Companies
Feb 18, 2019 Comments Off on Iran is responsible for Yemen’s humanitarian crisis, says Pompeo
Feb 15, 2019 Comments Off on Netanyahu on Reported Attack: Israel ‘Constantly Operating’ Against Iran in Syria
Feb 15, 2019 Comments Off on Warsaw summit: Why Iran is the elephant in the room
Feb 18, 2019 Comments Off on Gantz: I Stand With Netanyahu Against Iran
Feb 18, 2019 Comments Off on U.S. Air Force officer helped Iran wage cyber attack on U.S.
Feb 16, 2019 Comments Off on Mike Pence claims Iran is planning a ‘new Holocaust’ to destroy Israel
Feb 16, 2019 Comments Off on IRAN’S ‘TOXIC MONEY’ PREVENTING ISRAELI-PALESTINIAN PEACE- BAHRAINI FM
Feb 18, 2019 Comments Off on Chinese and Iranian Hackers Renew Their Attacks on U.S. CompaniesChinese and Iranian Hackers Renew Their Attacks on U.S. Companies Chinese and Iranian Hackers Renew Their Attacks on U.S. Companies Businesses and government agencies in the United States have been targeted in...
Feb 18, 2019 Comments Off on Gantz: I Stand With Netanyahu Against IranGantz: I Stand With Netanyahu Against Iran Gantz: I Stand With Netanyahu Against Iran Benny Gantz, Hosen L’Yisrael chairman and prime ministerial hopeful, said Sunday that he backs Prime Minister Benjamin...
Jul 14, 2016 Comments Off on Corps’ one hundred thousand of triggered missiles in Lebanon:An official Israel-threatening by CorpsIran Briefing: Since August 7, 1979, when Ayatollah Khomeini declared the last Friday of Ramadhan as “Quds Day”, the Islamic Republic has always tried to hold an imposing ceremony by using state resources as well as requiring people’s involvement. This year’s Quds march had fundamental...