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Obama orders blocking of Iranian properties

Last Updated: Monday, February 6, 2012 - 22:19

Washington: In a move bound to rattle Tehran,
US President Barack Obama on Monday issued an executive order
blocking property of the Iranian government and its financial
institutions in America.

In a communiqué to the US Congress, Obama said his
administration feels additional sanctions are needed on Iran
in light of the "deceptive practices" of the Central Bank of
Iran and other Iranian banks to conceal transactions of
sanctioned parties.

Obama said he has determined that there are deficiencies
in Iran`s anti-money laundering regime and the weaknesses in
its implementation and continuing and unacceptable risk posed
to the international financial system by Iran`s activities.

As such Obama said he has signed an executive order that
blocks the property and interest in property of the Government
of Iran, the Central Bank of Iran and its other financial

"All property and interests in property of any Iranian
financial institution, including the Central Bank of Iran,
that are in the United States, that hereafter come within the
United States, or that are or hereafter come within the
possession or control of any United States person, including
any foreign branch, are blocked and may not be transferred,
paid, exported, withdrawn, or otherwise dealt in," the
executive order says.

US and its allies have accused Iran of pursuing a nuclear
weapons programme.

The West accuses Tehran of assembling the material and
know-how to build a nuclear bomb, a charge denied by Iran
which says its atomic programme is for peaceful use.


First Published: Monday, February 6, 2012 - 22:19
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