Saudi oil attack: US sanctions Iran's central bank, development fund - 92 News HD Plus

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Saudi oil attack: US sanctions Iran's central bank, development fund

WASHINGTON – The United States on Friday imposed another round of sanctions on Tehran, including on Iran’s central bank and a development fund, following last week’s attacks on oil facilities in Saudi Arabia that Riyadh and US officials have blamed on Iran.

Analysts cast doubt on how hard the new measures would hit Tehran given that earlier sanctions have already dried up Iranian oil revenues and cut Iranian banks’ ties to the financial world. “These are the highest sanctions ever imposed on a country,” Trump said. “It’s too bad what’s happening with Iran. It’s going to hell, doing poorly, practically broke, they are broke,” he said. Treasury Secretary Steve Mnuchin said Washington had now cut off “all source of funds to Iran.”

“Iran’s oil export proceeds are usually deposited in Central Bank accounts around the world, therefore the bank has central importance,” Amir Paivar, a London-based market analyst said. Previous U.S. sanctions have also targeted Iran’s foreign minister, its Islamic Revolutionary Guards Corps, space agencies, and various networks Washington has said helped boost Iran’s nuclear program, among others.

 

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