The latest sanctions announced by the White House against the Tehran regime are another positive step in further isolating Iran’s government as it continues its efforts to create nuclear weapons.
Under the executive order signed by President Obama on Feb. 6, U.S. financial institutions are required to freeze Iran’s assets they come in contact with. This new round of sanctions is meant to close loopholes in existing legislation. Before, American financial institutions were required to reject Iranian investments. Now, the U.S. banks must actually seize Tehran’s assets already invested in the United States.
Recently implemented U.S. and E.U. sanctions seem to be having an impact on Iran’s lucrative oil industry.
In a letter to Congress, the president wrote: “I have determined that additional sanctions are warranted, particularly in light of the deceptive practices of the Central Bank of Iran and other Iranian banks to conceal transactions of sanctioned parties, the deficiencies in Iran’s anti-money laundering regime and the weaknesses in its implementation, and the continuing and unacceptable risk posed to the international financial system by Iran's activities.”
Iran, the largest state-sponsor of global terrorism, has ignored international appeals to cease its nuclear weapons program. Sanctions such as these help unite the global community in a cohesive effort to isolate Iran and pressure the Tehran regime to abandon its nuclear program.