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U.S. intensifies pressure on Iran, sanctioning central banker

By JOSH LEDERMAN ing that Iran was still be-
Associated Press ing kept out of the global
WASHINGTON (AP) — The financial system and not
United States intensified receiving the economic
its financial pressure on benefits it was promised in
Iran on Tuesday, slap- exchange for curtailing its
ping anti-terror sanctions nuclear program.
on the head of its central In a 2016 meeting of the
bank and barring anyone Council on Foreign Rela-
around the world from do- tions in Washington, Seif
ing business with him. That said Iran achieved “almost
dealt a further blow to Eu- nothing” from the deal.
ropean hopes of salvaging The Treasury said Seif un-
the Iranian nuclear deal in dermined the central
the wake of President Don- bank’s credibility by rout-
ald Trump’s withdrawal. ing millions of dollars from
Valiollah Seif, the governor the Quds Force, the ex-
of the Iranian central bank, peditionary unit of Iran’s
was named a “specially Revolutionary Guards, to
designated global terror- al-Bilad Islamic Bank, which
ist” along with another se- is based in Iraq.
nior official, Ali Tarzali, who Those funds were then used
works in the central bank’s to “enrich and support the
international division. The In this Aug. 20, 2017 photo, Iran’s Central Bank Governor, Valiollah Seif, sits in an open session of violent and radical agen-
Treasury Department ac- parliament in Tehran, Iran. da of Hezbollah,” Treasury
cused the men of secretly Associated Press said.
funneling millions of dollars rorist proxies.” way of business with the Eu- from Iranian officials. Al-Bilad Islamic Bank and its
through an Iraqi bank to Typically, when the U.S. pun- ropeans. Not only is Trump The sanctions were expect- CEO and chairman, Aras
help Hezbollah, the militant ishes individuals with sanc- re-imposing sanctions on ed to be followed by addi- Habib, were also hit with
network that the U.S. con- tions, it prohibits Americans Iran, but he’s also threat- tional U.S actions in coming U.S. sanctions, as was Mu-
siders a terrorist group. or U.S. companies from ening to take the dramatic weeks, as the Trump admin- hammad Qasir, who the
Although the sanctions do doing business with them. step of punishing European istration works to dismantle Treasury said is a Hezbol-
not technically extend to In this case, the U.S. chose businesses that don’t wind the main banking conduits lah official who has been a
the central bank itself, they to also impose “secondary down their dealing there. exploited by Iran and its “critical conduit” for trans-
could significantly increase sanctions,” which also ap- That has left the Europeans Revolutionary Guards to ferring funds to Hezbollah.
Iran’s isolation from the ply to non-Americans and in the undesirable position convert Iranian rials into eu- U.S. officials were reach-
global financial system. Seif, non-U.S. companies. That of having to decide wheth- ros or dollars. Those Western ing out Tuesday to central
whose role is equivalent to means that anyone in any er to call his bluff. “hard currencies” can be banks in other countries in
the Federal Reserve chair- country who does business The new sanctions on cen- used to fund extremist ele- the Middle East and Europe
man in the U.S., oversees with Seif or Tarzali could be tral bank officials appear ments, such as in Lebanon to inform them of the sanc-
major financial decisions in punished. designed to strengthen and Syria. tions and encourage them
Iran. Any transactions that Yet the European mem- Trump’s hand, creating Seif, a career banker, be- to immediately freeze as-
involve his signature could bers of the international another avenue by which came the head of Iran’s sets the bank has overseas.
potentially run afoul of the accord, livid at Trump over anyone doing business in Central Bank in 2013 under Lebanon’s Hezbollah, the
sanctions, creating a strong his withdrawal, have yet to Iran could risk being cut off President Hassan Rouhani, Shiite guerrilla force, has
disincentive for govern- commit to that effort. To from New York, the beating who shepherded the nu- long helped carry out Iran’s
ments or businesses consid- the contrary, Britain, France heart of the global finan- clear deal. Seif frequently foreign policy objectives in
ering deals involving Iran’s and Germany are work- cial system. visits Washington to attend the Arabic-speaking world.
central bank. ing to salvage it. Their top “Trump can use this in his meetings of the Interna- Most recently, the U.S. has
“The United States will not diplomats met Tuesday in arguments with Europe to tional Monetary Fund. been concerned about the
permit Iran’s increasingly Brussels with Iranian Foreign deter business with Iran,” He has helped guide Iran’s role that Hezbollah fighters
brazen abuse of the inter- Minister Mohammad Ja- said Behnam Ben Taleblu, economy through the are playing in Syria to help
national financial system,” vad Zarif in a bid to keep an Iran sanctions expert at web of previous sanctions prop up President Bashar
Treasury Secretary Steven Iran from bailing. the hawkish Foundation for placed on that country. In Assad. Hezbollah fought a
Mnuchin said. “The global Whether the deal can sur- Defense of Democracies. the aftermath of the 2015 war with Israel in 2006, and
community must remain vive without the U.S. de- “All of this is another arrow international accord, in Israeli officials have been
vigilant against Iran’s de- pends on whether Tehran in the quiver.” which nuclear sanctions on deeply concerned about
ceptive efforts to provide continues to receive suffi- There was no immediate Iran were lifted, Seif was a the prospect of another
financial support to its ter- cient economic benefits by comment Tuesday night prominent voice complain- confrontation.q