Iran has been put on the "black list" of terrorist-sponsoring countries
For years, the International Counter-Terrorism Organization has been trying to reach understandings with Tehran, which has repeatedly breached its commitments. After a sanction reinstatement procedure, the organization decided to take a stricter step. Zarif blames US, but Iran says Iran "threatens international economic system"
Iran has been put on the "black list" of terrorist-sponsoring countries
Photo: Reuters(In video: Iranian parliamentary elections in the shadow of economic and political crisis)
The FATF, the international anti-money laundering and terrorist financing task force in Paris, announced on Friday that Iran has been "blacklisted". The implication of this step is a call on the countries of the world to impose effective economic sanctions on Tehran. This is after Iran has refrained from adopting international treaty on terrorist financing, despite its commitments. To date, only North Korea has been included in this list.
The organization's decision comes after years of contacts with Iran. As early as 2016, Tehran pledged to work against money laundering and terrorist financing in its territory. Without meeting long-term obligations, the organization began a gradual reinstatement of economic sanctions until a decision was taken to take a more significant step.
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Iran's supreme leader Ali Khamenei meets Iranian Air Force officers in Tehran on February 8, 2020 (Photo: Reuters)
The implication of this measure is that more than 200 countries and territories will impose sanctions on Iran. In addition, financial sector entities will be instructed to apply increased oversight to Iranian institutions operating against them. This decision underlines the worldwide recognition that the regime in Tehran is a danger. "The result of Iran's inaction is isolation from the financial system," a diplomatic source told Reuters.
The head of the Central Bank of Iran has canceled the organization's decision and its implications, trying to calm the public in Iran. "I can guarantee that this will not affect our foreign trade or our exchange rate stability," he said. However, business owners from foreign countries have argued that Tehran must comply with the terms of the FATF if it wants to attract investors.
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To the full articleBlaming US: Iranian Foreign Minister Zarif (Photo: AP)
Iran's Foreign Minister Muhammad Jawad Zarif, January 15, 2020 (Photo: AP)
"Until Iran takes the necessary steps, the FATF will remain concerned about terrorist financing," the organization said. "This is a threat to the international economic system." Despite the sharp step, FATF may still want to give room for renewed dialogue with Tehran. An organization official said "this is a mid-range solution that leaves the door open to Iranians."
Iranian Foreign Minister Muhammad Jawad Zarif has accused the United States of exerting pressure on the FATF, influencing its decision. But within Iran, there are voices calling for cooperation with the international organization, arguing that this will facilitate foreign trade with Europe and Asia, and reduce US sanctions. Opponents, on the other hand, argue that this could hurt the support of its allies, such as Hezbollah.
