Central Bank of Iran: US Sanctioning Seif is Unprofessional

The Central Bank of Iran has described the US Treasury's action to sanction the Governor of the Central Bank, Valiollah Seif, due to what it termed 'support for international terrorism,' as 'unprofessional' and 'disrespectful' to international norms. Following Washington's withdrawal from the JCPOA under President Donald Trump, on Tuesday, May 15, the US Treasury sanctioned Valiollah Seif for allegedly 'providing' millions of dollars in financial resources to Hezbollah in Lebanon. Ali Tarzali, Deputy Director of the International Department of the Central Bank of Iran, and Mohammad Qasir, the financial liaison of the Quds Force of the Islamic Revolutionary Guard Corps and Hezbollah, were also included in these sanctions. These individuals, accused of 'supporting international terrorism,' are subject to US secondary sanctions, prohibiting American individuals and institutions from dealing with them. However, the sanctions do not include the Central Bank of Iran itself. On Sunday, May 20, the Central Bank of Iran issued a statement calling the recent action by the US Treasury 'completely unprofessional' and 'indicative of the American officials' disrespect for international norms.' The statement noted that the US Treasury's actions are 'not surprising' given the recent unilateral behavior of the US government and its disregard for various international commitments and agreements. This statement refers to the US's exit from the nuclear agreement with major world powers, which President Trump announced despite opposition from European countries, and the subsequent return of sanctions against Tehran's nuclear program. Nevertheless, the Central Bank stated that the US intends to exert pressure on the Iranian people under the guise of titles such as combating terrorism and its financing. The bank added that the United States, 'without any legal basis or documentation, is attempting to create a negative psychological atmosphere against Iran's banking system internationally by imposing sanctions on the managers and officials of the Central Bank.' The statement accused the US Treasury of 'indifference and disregard' for 'the functions of the Central Bank and their essential role in establishing domestic and international monetary stability, as well as for international commitments arising from membership in international bodies such as the International Monetary Fund.' Previously, Bahram Qasemi, the spokesman for the Iranian Foreign Ministry, had attributed the sanctioning of Valiollah Seif by the US to 'compensating for its failures' following its withdrawal from the JCPOA. Qasemi pointed out the timing of the US's action in adding Seif's name to the sanctions list coinciding with Iran's meetings with other countries regarding the JCPOA, stating that this indicates the US has 'failed' to achieve its goals following its unilateral exit from the agreement. In the US Treasury's statement regarding Seif's sanctions, the international community was urged to remain vigilant against Iran's 'deceptive' efforts to financially support terrorist networks. The statement also added that the sanctions against Seif and others listed were in line with the President's decision to withdraw from the JCPOA and reinstate sanctions that had been suspended due to the nuclear agreement with Iran. Although the US Treasury has stated that the sanctions against Valiollah Seif and Ali Tarzali do not include the Central Bank of the Islamic Republic, following the US's exit from the JCPOA, the US government will reinstate sanctions regarding specific transactions with the Central Bank of Iran starting from August 7 of this year, including sanctions on the purchase or acquisition of US dollar banknotes by the Iranian government. Additionally, based on Trump's decision, further sanctions against individuals who knowingly engage in significant transactions with the Central Bank of Iran will also be reinstated on November 5 of this year. Iran's protests against the US's exit from the JCPOA and the return of sanctions continue, while European countries emphasize their commitment to their obligations under the JCPOA and have urged Iran to remain in the agreement. However, Iranian officials, including the Supreme Leader and Ali Akbar Velayati, his international advisor, have stated that they do not trust Europe and that these countries must provide Iran with practical guarantees regarding its interests from the JCPOA. European officials have also announced that they are exploring ways to continue economic exchanges with Iran and avoid US sanctions against European companies active in this area.