you're reading...

BREAKING NEWS: Obama orders global US Iran asset block

US President Barack Obama has signed an executive order to freeze all Iranian government assets held in America and US banks abroad.

“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, the deficiencies in Iran’s anti-money laundering regime and the weaknesses in its implementation” Obama said in a letter to Congress.

Obama claimed Iranian financial activities are posing “continuing and unacceptable risk” to the international financial system.

The executive order prevents any Iranian assets deemed within US jurisdiction – including foreign branches of American banks – from being transferred, paid, exported or withdrawn.

Obama’s decision comes just four days after the US Senate backed new economic sanctions against Iran. The sanctions targeted companies in joint uranium mining projects and organizations supplying the country with weapons.

Congress had previously passed sanctions aimed at institutions doing business with the Iranian Central Bank.



No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

  • 26,506 hits

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 117 other followers

Contact Email



Twitter Updates

Error: Twitter did not respond. Please wait a few minutes and refresh this page.

%d bloggers like this: