US announces sanctions against Iran Central Bank and Development Fund

Washington/Tehran: The United States, which has accused Iran of attacks on the Saudi oil facilities, has given indications of initiating intense action against it. After announcing the additional military deployment in Saudi and United Arab Emirates (UAE), the United States tightened the noose of sanctions further around Iran. The sanctions target the Iranian Central Bank, Development Fund and a company linked to the Iranian military.

US President Donald Trump announced the sanctions against Iran saying, ‘The new sanctions are the most extensive as also harshest sanctions till date. The situation in Iran is pathetic. The economic situation is terrible and the economy has almost collapsed. Iran is treading the path to hell.’

Following President Trump’s announcement, the US Department of Treasury informed on the sanctions against Iran, through an independent statement. Accordingly, sanctions have been imposed against the Central Bank of Iran, National Development Fund of Iran and the Iran-based company, Etemad Tejarat Pars. Over the last few months, sanctions have been imposed against Iranian oil exports, trade, economy, Revolutionary Guards (IRGC), Iran’s atomic energy along with Foreign Minister Javad Zarif and other Iranian senior leaders and officials.

The Iranian economy and oil exports came under a threat because of the previous sanctions imposed by the United States. Even so, Iran has taken its nuclear program forward with more thrust and has decided to increase the uranium enrichment significantly. After that, Iran was also revealed to have made aggressive preparations to expedite its missile development program.

The attacks on the Saudi oil installations clearly show that Iran is not willing to retract on its provocative policies. The United States is therefore believed to have imposed the fresh sanctions against Iran to mount pressure further.