US sanctions Iran’s entire financial sector
Al JazeeraThe administration of United States President Donald Trump tightened the noose further around Iran’s beleaguered economy on Thursday, announcing a fresh round of sanctions that will effectively shut the country out of the global financial system. On Thursday, the US Department of the Treasury announced it is blacklisting 18 major Iranian banks – 16 of which were targeted for “operating in Iran’s financial sector” – as well one bank controlled by a sanctioned Iranian bank and one the US Treasury says is affiliated with Iran’s military. In a statement, the Treasury said it had, “identified the financial sector of Iran’s economy as an additional avenue that funds the Iranian government’s malign activities”. In a statement, US Treasury Secretary Steven Mnuchin said: “Today’s actions will continue to allow for humanitarian transactions to support the Iranian people.” But critics have long contended that US sanctions have obstructed the flow of vital food, medicines and other humanitarian aid to Iran. After the sanctions were announced on Thursday, Iranian foreign minister Mohammad Javad Zarif pushed back on Mnuchin’s claims that humanitarian transactions would not be impacted by the latest round of sanctions.
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