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US imposes sanctions on 18 banks in Iran - Walla! News

2020-10-08T19:11:45.074Z

The Trump administration imposes sanctions on the banking sector in Tehran, effectively cutting it off from the international financial system. The transfer of humanitarian aid is exempt from the sanctions imposed weeks before the election, but Iran claims the sanction will hurt the transfer of drugs and food during the corona plague: "Crime against humanity"



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The US has imposed sanctions on 18 banks in Iran

The Trump administration imposes sanctions on the banking sector in Tehran, effectively cutting it off from the international financial system.

The transfer of humanitarian aid is exempt from the sanctions imposed weeks before the election, but Iran claims the sanction will hurt the transfer of drugs and food during the corona plague: "Crime against humanity"

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  • Iran

  • United States

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Thursday, 08 October 2020, 21:26

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In the video: Pompeo on imposing sanctions on Iran (Photo: Reuters)

The United States today (Thursday) imposed extensive sanctions on the banking sector in Iran, weeks before the presidential election.

The US Treasury Department has imposed sanctions on 18 Iranian banks, which are effectively cutting off the Islamic Republic from the international financial system while fighting the corona plague.



The Trump administration did not cite specific allegations against most of the banks, but declared that the entire Iranian financial sector is being used to support Tehran's nuclear program and "malicious" actions in the region.



Finance Minister Steve Manuchin said the sanctions "would stop illegal access to US dollars" and warned that these would continue until Iran "stopped supporting terrorist activities and halted its nuclear program".



The Treasury Department has indicated that the transfer of humanitarian aid such as food and medicine will be exempt from the sanctions, but European diplomats say U.S. sanctions have dire consequences.

Very few institutions are willing to risk the punitive measures of the largest economy in the world.

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Tehran and the world are waiting for the election results.

Khamenei (Photo: Reuters)

The new sanctions will take effect within 45 days, to allow various companies to reduce their economic activity in Iran.

This time frame will allow them to wait and see the election results on November 3rd.



President Donald Trump resigned from the nuclear deal two and a half years ago and hit the Iranian economy with sanctions on its oil sector.

His aggressive policies have won the support of Iran's rivals - most of the Sunni Gulf states and Israel.

He promised to reach a new agreement within a few weeks if he defeated his Democratic rival Joe Biden in November, who was Barack Obama's deputy at the time of signing the 2015 nuclear deal.

Biden wants to return to diplomacy with Iran.

More on Walla!

NEWS

Tens of thousands displaced in Nagorno-Karabakh, Iran warns of regional war

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"During the Cubid 19 epidemic, the US regime wants to blow up the rest of our channels to pay for food and medicine," Iranian Foreign Minister Mohammad Javad Zarif attacked.

"But a plot to starve a civilian population is a crime against humanity," he tweeted.

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Source: walla

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