WASHINGTON — President Barack Obama has ordered new sanctions on the Islamic republic, including its Central Bank, in a move to enforce a law he signed in December.
In a letter to Congress Monday, Obama said the tougher sanctions are warranted “particularly in light of the deceptive practices of the Central Bank of Iran and other Iranian banks.” He said the problems included the hiding transactions of sanctioned parties, the deficiencies of Iran’s anti-money laundering regime and the unacceptably high risk posed to the entire international financial system posed by Iran’s activities.
The Central Bank sanctions were included as an amendment in the wide-ranging defense bill Obama signed into law at the end of 2011. The White House said Obama signed the executive order approving the sanctions on Sunday, well ahead of the six-month window he was afforded in the defense bill.
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