BREAKING: US Imposes New Economic Sanctions on Iran, Targeting Central Bank
Key Highlights
* The Trump administration has announced a new round of economic sanctions against Iran. * The sanctions target Iran's central bank, as well as several other financial institutions. * The move comes amid heightened tensions between the US and Iran in recent weeks.In-depth Analysis
The US Treasury Department has imposed new economic sanctions on Iran, targeting the country's central bank and several other financial institutions. The move comes amid heightened tensions between the US and Iran in recent weeks, following the US assassination of Iranian general Qassem Soleimani and Iran's subsequent retaliatory missile strikes on US military bases in Iraq.
The new sanctions freeze all assets of Iran's central bank and other designated financial institutions within the US, and prohibit US entities from doing business with them. The sanctions also target Iran's sovereign wealth fund, the National Development Fund of Iran, and the country's largest bank, Bank Melli Iran.
In a statement, US Special Representative for Iran Brian Hook said that the sanctions are "the strongest financial sanctions ever imposed on Iran." He said that the sanctions will "deny the Iranian regime the financial resources it needs to continue its destabilizing activities." The Trump administration has been pressuring Iran to abandon its nuclear program and withdraw its support for militant groups in the region, but Iran has refused to comply.
The new sanctions are likely to further escalate tensions between the US and Iran. Iran has warned that it will retaliate against the US for the assassination of Soleimani, and has vowed to continue its support for militant groups in the region.
