US Economic Terrorism: Sanctions Target 18 Iranian Banks

By Staff, Agencies

As part of its economic terrorism, the United States targeted Iran’s financial sector by imposing sanctions on 18 Iranian banks, in defiance of Europe’s humanitarian objections.

The US Treasury Department announced the measure on its website on Thursday, weeks ahead of the American presidential elections in which incumbent Republican President Donald Trump is pitted against Democrat Joe Biden. 

The Trump administration took the punitive action with an aim to cut off the Islamic Republic from the world's financial system.

The Treasury Department failed to come up with any specific accusations against most of the banks. It just declared that the Iranian financial sector may be used to support the government's nuclear program and its "malign regional influence."

Treasury Secretary Steven Mnuchin claimed that the US sanctions would "stop illicit access to US dollars."

"Our sanctions programs will continue until Iran stops its support of terrorist activities and ends its nuclear programs," he claimed in a statement, throwing the oft-repeated baseless US accusations against Iran.

“Today’s actions will continue to allow for humanitarian transactions to support the Iranian people,” he added.

Although the Trump administration has claimed humanitarian goods are exempt from its sanction, a web of sanctions tied around Iran over years has made foreign banks and companies extremely wary of engaging in any trade with the country.

Health officials say Iran can produce more than 96 percent of its medical needs. But specialist treatments such as those for cancer or donor transplants often rely on imports.

The Treasury on Thursday said the sanctions did not apply to transactions for the provision of agricultural commodities, food, medicine or medical devices to Iran, but European diplomats have said that US sanctions have dire humanitarian consequences.