US extends sanctions to Iran’s central bank
By HILARY LEILA KRIEGER, JPOST CORRESPONDENT 02/07/2012 00:30
Measure blocks financial transactions on behalf of any Iranian government institution.
US President Barack Obama [file] By REUTERS/Kevin Lamarque

WASHINGTON – The White House announced tough new sanctions on Iran Monday, clamping down on the activity of the country’s Central Bank and those who do business with it. They are the latest round of sanctions imposed after President Barack Obama signed legislation at the end of the year that ramped up US options for using sanctions to pressure the Iranians to stop their nuclear program.

“I have determined that additional sanctions are warranted, particularly in light of the deceptive practices of the Central Bank of Iran and other Iranian banks to conceal transactions of sanctioned parties,” Obama said in his message informing Congress of the move. He also pointed to the deficiencies in Iran’s anti-money laundering regime and the weaknesses in its implementation and the continuing and unacceptable risk posed to the international financial system by Iran’s activities.

Mark Dubowitz, executive director of the Foundation for Defense of Democracies, said, “This executive order is the logical next step in the administration’s economic war on the Iranian regime. It is important because it blocks financial transactions on behalf of any Iranian government institution.”

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