Iran's Minister of Economy: International Transactions Are Impossible Without Cooperation with the FATF

In response to the topic of Iran's cooperation with the Financial Action Task Force (FATF) to avoid being on the blacklist of this organization, Iran's Minister of Economy stated that without cooperation with this group, despite the lifting of nuclear sanctions, international banking transactions would still not be possible. Ali Tayebnia, in an interview with Iran's state television on September 7, stated that individuals still on the sanctions list, as per the nuclear agreement, can freely conduct their domestic banking transactions. Mr. Tayebnia mentioned that only Iran, North Korea, and Cuba were on the FATF blacklist, and Cuba had been removed from this list after cooperating with the organization. The Minister added, 'Due to Iran's presence on the blacklist, this organization advised financial institutions not to cooperate with Iran. Naturally, under such circumstances, even with the lifting of sanctions, we could not utilize international banking transactions.' According to him, 'Iran is at the forefront of the fight against terrorism,' and 'it is unfair to remain on the blacklist.' These explanations were made regarding the FATF's request from countries to monitor and identify transactions with terrorist groups like ISIS and Al-Qaeda. The Iranian Minister emphasized that the Islamic Republic government has only made promises to this international organization 'on its own behalf' and stated, 'We cannot make commitments on behalf of the state regarding the pillars of sovereignty.' This government official from Hassan Rouhani's administration indicated that the FATF has requested Iran to define terrorist groups and based on this definition, to combat their banking transactions. Mr. Tayebnia stated that the Iranian government has not made any promises in this regard. He also mentioned that 'the worst-case scenario could be that we return to the blacklist, which means we have done nothing.' According to the Iranian Minister of Economy, the criticisms raised regarding Tehran's cooperation with this international anti-money laundering organization are 'political maneuvering' and stem from 'a lack of understanding of this organization.' Conservative critics of the government's cooperation with the FATF claim that due to Iran's joining this international group, several Iranian banks have ceased cooperation with certain organizations and institutions of the Islamic Republic, such as the Islamic Revolutionary Guard Corps (IRGC). Some of these institutions, organizations, and individuals working in them are on the sanctions lists of the United States or the United Nations. The Supreme Leader's senior advisor stated that Ayatollah Khamenei 'will not tolerate this humiliation.' Majid Takht-Ravanchi, Deputy for Europe and America at the Iranian Foreign Ministry, also reported yesterday that the Supreme National Security Council of the Islamic Republic has entered this issue and is making decisions about it. On the other hand, the newspaper Shargh states that the repeated attacks by conservative media and figures against Hassan Rouhani's government for Iran's joining this organization are due to the implementation of a law that had previously been approved by the Parliament and the Guardian Council. In this context, the Central Bank's directive to provide services to sanctioned Iranian institutions and the international financial system: 'One step forward, two steps back.'