Ministry Condemns US Sanctioning of CBI Chief

EghtesadOnline: Two days after the Central Bank of Iran issued a statement against the recent blacklisting of its governor, the Ministry of Economic and Finance Affairs has made a similar move, calling the sanctions another example of “unconventional behavior” and a “lack of commitment toward international agreements” by the US.

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23 May 2018

“In an illegal move that was against international rights, the US Treasury Department put the governor of the central bank and one of its directors on its sanctions list,” the ministry’s statement published on its website reads.

On May 15, the US Department of Treasury’s Office of Foreign Assets Control imposed sanctions on CBI Governor Valiollah Seif and Ali Tarzali, former assistant director of the bank’s International Department, in addition to the Iraq-based Al-Bilad Islamic Bank and its chairman, and a Hezbollah official.

OFAC designated all of them Specially Designated Global Terrorists, which targets terrorists and those providing support to terrorists or acts of terrorism, Financial Tribune reported.

Similar to CBI’s statement, the Economy Ministry also said this move was against international norms and was made “with the aim of creating a negative psychological atmosphere against Iran’s banking system”. It declared that Iran’s banking system will continue to develop its international ties.

“This US Treasury move was against international rights and aimed to hurt the interests of Iranian citizens, foreign investors and also international beneficiaries,” the ministry’s statement reads.

The statement, however, noted that the move was unsurprising in that the current US government’s track record shows that it does not abide by any international norms, agreements or frameworks.

The ministry has also reassured Iranian entrepreneurs, foreign investors and the general public that they can continue their financial operations with Iran’s banking system in spite of the “propaganda move”, the US will fail to harm any of the aforesaid groups.