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The Treasury imposes sanctions on 18 Iranian banks. Eliminate the dollar from the market

On Thursday, the US Treasury announced new sanctions against 18 other Iranian banks, according to the department's website, in order to "stop illicit access to US dollars."

This is after last month the Trump administration was reportedly considering aggressive sanctions on the entire Iranian financial system, essentially seeking to cut the Islamic Republic entirely from the outside world. So now it appears that Washington is moving to effectively blacklist the entire Iranian financial system in this latest devastating blow.

"As part of this action, OFAC has sanctioned sixteen Iranian banks for operating in the Iranian financial sector and one bank for being owned or controlled by an authorized Iranian bank," the US Treasury announced. "In addition, today's action includes the designation of an Iranian military-affiliated bank under the counter-proliferation authority of the Treasury."

The names of the eighteen newly sanctioned banks, including the Hekmat Iranian Bank, the key institution rumored to serve the Iranian military and the Islamic Revolutionary Guard Corps, are listed on the US Treasury website.

"Our sanctions programs will continue until Iran ceases its support for terrorist activities and ends its nuclear programs," the Treasury statement continued. He also addressed allegations that Washington is thus stopping essential aid and supplies for the Iranian people, stating that the blockade "will continue to allow humanitarian transactions in support of the Iranian people."

This claim was however strongly contested by the Iranians, who called the US starving hypocrites:

The move marks a strong divergence between Trump's policies and those promised by Biden: while the first appears very hard against Tehran, while not reaching the military confrontation, the second seems to be willing to give in to European and Iranian pressure and to rejoin the nuclear agreement.


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The article The Treasury imposes sanctions on 18 Iranian banks. Eliminated from the dollar market comes from ScenariEconomici.it .


This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/il-tesoro-impone-sanzioni-a-18-banche-iraniane-eliminate-dal-mercato-del-dollaro/ on Fri, 09 Oct 2020 07:00:05 +0000.