Autos, aircraft first for sanctions
Iran upbeat on N-deal in E-3 talks
PARIS, May 15, (Agencies): The United States will re-establish sanctions against Iran progressively, kicking off with the automobile and civil aviation sectors, a source close to the French government said on Tuesday.
Energy and finance will follow, with companies facing punishment if they continue to do business with Iran, after US President Donald Trump withdrew from a landmark nuclear deal with Tehran.
Aug 6 will see the re-introduction of auto and civil aviation sanctions, according to the source.
Sanctions in the energy sector, covering oil, gas and petrochemicals, will follow on Nov 4.
“There will be the obligation to reduce imports of Iranian crude oil and, in more general terms, sanctions on any commercial operations and transactions of the (energy) sector with Iran,” the source said.
The United States on Tuesday imposed sanctions on Iran’s central bank governor, Valiollah Seif, and Iraq-based Al-Bilad Islamic Bank for “moving millions of dollars” for Iran’s elite Revolutionary Guard Corps, as Washington seeks to cut off funding for what it says is Iran’s malign activities in the Middle East.
US Treasury Secretary Steven Mnuchin said 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-QF 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.
The US Treasury also blacklisted Ali Tarzali, assistant director of the international department of Iran’s central bank, and the chairman of Al-Bilad Islamic Bank, Aras Habib.
The department said the sanctions against Seif and Tarzali would not immediately affect central bank transactions. It said, however, sanctions being reimposed under the nuclear deal would affect certain US dollar transactions by the central bank starting on Aug 7, 2018.
Last week, two days after US President Donald Trump withdrew from the 2015 Iran nuclear deal, the US Treasury imposed sanctions against six individuals and three companies it said were funneling millions of dollars to the IRGC-QF.
The IRGC is by far Iran’s most powerful security entity and has control over large stakes in Iran’s economy and huge influence in its political system. The Quds Force is an elite unit in charge of the IRGC’ overseas operations.
Iran’s foreign minister meanwhile, said Tuesday that efforts
to save the nuclear deal after the abrupt US withdrawal were “on the right track” as he began talks with European powers in Brussels.
Mohammad Javad Zarif met EU foreign policy chief Federica Mogherini ahead of evening talks with his counterparts from Britain, France and Germany — the three European signatories to the 2015 landmark accord who are scrambling to preserve it.
Zarif gave an upbeat assessment after a “good and constructive” meeting with Mogherini.
“I believe we’re on the right track to move forward in order to ensure that interests of all the JCPOA remaining participants, particularly Iran, will be preserved and guaranteed,” he told reporters. The deal’s official name is the Joint Comprehensive Plan of Action, or JCPOA.
Mogherini said it had been a “very productive” meeting but indicated it was the start of a long road.