Blog-Archive

President Obama Signs Order for New Sanctions Targeting Iranian Currency

By Dan Robinson, VOA

WHITE HOUSE – U.S. President Barack Obama on Monday signed an order imposing additional sanctions on Iran, for the first time directly targeting Iran’s currency, the rial. It’s the latest U.S. step to increase pressure on Iran to change course on its nuclear program.


A woman walking past a currency exchange shop in Tehran

The executive order further intensifies the second track of the Obama administration’s strategy on Iran, which aims to increase the economic costs, and further isolate the Islamic Republic from the global financial system.

It authorizes sanctions on foreign financial institutions that knowingly conduct or facilitate significant transactions for the purchase or sale of the Iranian rial, or that maintain significant accounts outside Iran denominated in the Iranian rial.

Senior administration officials said no specific dollar amount is specified, although regulations contain some guidance on this.

The idea, said one official, is to make the Iranian currency „essentially unusable outside of Iran,“ as part of the overall effort to apply „significant financial pressure“ on the government of Iran.

The order also targets what is called a major revenue generator, Iran’s automotive sector, building on sanctions in legislation President Obama signed this past January. Lies den Rest dieses Beitrags

%d Bloggern gefällt das: