US imposes fresh sanctions on 18 Iranian banks to intensify 'maximum pressure' campaign

United States has targeted Iran’s financial sector by anuncing fresh sanctions on 18 major Iranian banks as Washington intensifies its “maximum pressure” campaign ahead of vember elections. US State Department said that new tranche of sanctions was aimed at choking off funds used to carry out “its support for terrorist activities and nuclear extortion.”

Anuncing new sweeping sanctions, US Secretary of State Mike Pompeo accused Iran’s Supreme Leader Ayatollah Khamenei of igring request of health ministry to increase spending amid public health crisis, and instead funding Islamic Revolutionary Guard Corps and regime’s Basij forces “that terrorize Iranian people every single day.”

“Our sanctions are directed at regime and its corrupt officials that have used wealth of Iranian people to fuel a radical, revolutionary cause that has brought untold suffering across Middle East and beyond,” Pompeo said in a statement.

action generally bars Americans from dealing with those blacklisted under sanctions and extends secondary sanctions to those who get involved in financial transactions with m. This could have a huge impact on European banks as y risk losing access to US market and financial system. 

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Sanctions and US elections

sanctions also hold significance vis-a-vis US presidential elections as American intelligence believes that Iran seeks to undermine democratic institutions of United States, President Donald Trump, and to divide country in ahead of 2020 elections. US counterintelligence chief William Evanina had said that Iran’s activities are driven by a perception that Trump’s re-election would result in a continuation of US pressure on Iran in an effort to foment regime change.

Last month, US anunced sanctions on several Iranian officials and judges over alleged gross violations of human rights. sanctions targeted a judge who sentenced Iranian wrestler Navid Afkari to death. Pompeo had said that wrestler was subjected to trials that were “rushed and grossly unfair” and he was reported being tortured by Iranian officials at Adel Abad Prison.

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