The United States Department of the Treasury imposed on Tuesday sanctions on Iran’s central bank governor, Waliollah Seif and Iraq-based Al-Bilad Islamic Bank for funding Iran’s Revolutionary Guard Corps (IRGC).
The U.S. Treasury also blacklisted the chairman of Al-Bilad Islamic Bank and Victory Alliance candidate, Aras Habib as well as the assistant director of the international department of Iran’s central bank Ali Tarzali, Reuters reported.
The Treasury Secretary, Steven Mnuchin said that Seif covertly funneled millions of dollars on behalf of the IRGC through Al-Bilad bank “to enrich and support the violent and radical agenda of Hezbollah.”
The United States classifies Lebanon’s Shi’ite Muslim movement Hezbollah, which is backed by Iran, as a terrorist group.
“It is appalling, but not surprising, that Iran’s senior-most banking official would conspire with the IRGC to facilitate funding of terror groups like Hezbollah, and it undermines any credibility he could claim in protecting the integrity of the institution as a central bank governor,” Mnuchin said in a statement.
Last week, two days after United States President, Donald Trump decided to pull his country out of the 2015 Iran nuclear deal, the Treasury Department has imposed sanctions against six individuals and three companies for funding the IRGC.
The IRGC is considered to be Iran’s most powerful security entity and has control over large stakes in Iran’s economy and huge influence in its political system.