U.S. sanctions Iranian bank accused of funneling millions to terror group

BREAKING: US sanctions Iran bank chief as a 'global terrorist' who funnels millions to Hezbollah

BREAKING: US sanctions Iran bank chief as a 'global terrorist' who funnels millions to Hezbollah

"It is appalling, but not surprising, that Iran's senior-most banking official would conspire with the IRGC-QF to facilitate funding of terror groups like Hizballah, and it undermines any credibility he could claim in protecting the integrity of the institution as a central bank governor", he added.

The US has imposed sanctions against governor of Iran's central bank Valiollah Seif and Iraq-based Al-Bilad Islamic Bank for transferring "millions of dollars" for Iran's Islamic Revolution Guards Corps (IRGC), Press TV reported.

Beginning August 7, the US will impose sanctions on the purchase or acquisition of US dollar banknotes by Iran's government, the US Treasury Department said.

"Iran's Central Bank Governor covertly funneled millions of dollars on behalf of the IRGC-QF through Iraq-based al-Bilad Islamic Bank to enrich and support the violent and radical agenda of Hizballah", a statement from Treasury Secretary Steve Mnuchin said. That signifies that anybody, in any nation, who does enterprise with Seif or Tarzali might themselves be punished with sanctions, reducing them off from the US monetary system.

The moves come as Trump's administration, after deeming the 2015 nuclear deal insufficiently tough on Iran, seeks to construct a global coalition to place enough pressure on Tehran that it comes back to the negotiating table to strike a "better deal".

Brooke Singman is a Politics Reporter for Fox News.

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Allardyce's side take on West Ham on Sunday at the London Stadium in their final Premier League match of this season. Only when I speak to him today [Friday] will I find out where the situation lies.

President Donald Trump recently took the USA out of the nuclear deal with Iran in part because of the country's suspected funding of regional terrorist groups.

President Trump in April said Iran would pay a "price" if it threatens the U.S.

Since leaving the deal, the Trump administration's plan has been to reimpose the sanctions lifted under the deal while also imposing secondary sanctions against countries that choose to trade with Iran.

Lebanon's Hezbollah, the powerful Shiite guerrilla force that is also a prominent political player in Lebanon, has long helped carry out Iran's foreign policy objectives in the Arabic-speaking world.

The blacklisted head of Iraq's Al-Bilad Islamic Bank was named as Aras Habib, who ran in last weekend's general elections as a candidate on the slate of Prime Minister Haidar al-Abadi, whose government has been supported by the United States and the global community.

For firms already operating in Iran, there is a period of 3 to 6 months to end the business, otherwise they will be denied access to the USA market. Hezbollah fought a battle with Israel in 2006, and Israeli officers have been deeply involved concerning the prospect of one other confrontation.

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