Zarif, Lawmakers Discuss FATF Affairs

EghtesadOnline: Foreign Minister Mohammad Javad Zarif in a closed session briefed lawmakers Tuesday about the ‘Iran Action Plan’ with the global anti-money laundering body the Financial Action Task Force.

News ID: ۷۴۶۱۴۸

24 October 2018

Behrouz Nemati, a spokesman for the Majlis Presiding Board told reporters that apart from the FATF, the meeting also took stock of the nuclear deal with world powers known as the Joint Comprehensive Plan of Action.

According to Nemati. Abbas Araghchi, the deputy foreign minister for political affairs, was present. Attending MPs said US moves to exert maximum pressure on Iran and push it on the brink was also debated.

"During the four-month period, a proper mechanism should be found and Mr. Zarif emphasized that self-imposed restrictions should not lead to the cancelation of bilateral agreements with some countries," Nemati said referring to the FATF decision last week, according to Financial Tribune.

The international group that monitors money laundering worldwide said Friday Iran has been given until February to complete reforms that would bring it into line with global norms or face consequences.

"The Financial Action Task Force decided at its meeting last week to continue the suspension of counter-measures," it said in a statement. "However, the FATF expresses its disappointment that the majority of the Action Plan remains outstanding and expects Iran to proceed swiftly on the reform path."

The government has been striving to bring itself into line with global anti-money laundering laws and countering financing of terrorism rules since it committed to complete the Action Plan outlined by the FATF.

The country is under pressure to find new ways to maintain connections to the international financial system as US sanctions bite and the Trump administration prepares to impose tougher measures to stop Iranian oil exports in November.