US sanctions Iranian regime's central bank

Orient Net 2019-09-21 07:39:00

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The United States on Friday (September 20) imposed another round of sanctions on Tehran, including on Iranian regime’s central bank and a development fund, following last week’s attacks on oil facilities in Saudi Arabia that Riyadh and US officials have blamed on Iran.

President Donald Trump outlined the action to reporters at the White House on Friday after first announcing his plan for further sanctions earlier this week on Twitter.

Iran denies involvement in the attacks, which initially halved oil output from Saudi Arabia, the world’s largest petroleum exporter. Responsibility was claimed by Yemen’s Houthi movement.

Analysts cast doubt on how hard the new measures would hit Tehran given that earlier sanctions have already dried up Iranian oil revenues and cut Iranian banks’ ties to the financial world.

The fresh sanctions target the Central Bank of Iran, the National Development Fund of Iran and Etemad Tejarate Pars Co, an Iranian company that US officials said is used to conceal financial transfers for Iranian military purchases, the US Treasury Department said in a statement.

“These are the highest sanctions ever imposed on a country,” Trump said. “It’s too bad what’s happening with Iran. It’s going to hell, doing poorly, practically broke, they are broke,” he said. Treasury Secretary Steve Mnuchin said Washington had now cut off “all source of funds to Iran.”

Trump’s wide range of sanctions are part of a US campaign to increase economic pressure on Tehran over its nuclear program and regional ambitions and was championed by former national security adviser John Bolton, who was ousted this month.

Based on Reuters