On Friday, 20 September 2019, US President Donald Trump announced the toughest sanctions ever imposed on Iran's central bank, calling the measures the most severe ever taken by the United States against another country.
"We have just sanctioned the Iranian national bank," Trump told reporters in the Oval Office, adding that "these are the highest sanctions ever imposed on a country."
The sanctions come in response to Iran's alleged involvement in weekend blasts on Saudi Arabia's oil infrastructure, which caused a sharp hike in global crude prices.
The United States already maintains sweeping sanctions on Iran, including on its central bank, with anyone who deals with it subject to prosecution.
However, the Treasury Department's designation of the central bank for "terrorism" may be more difficult to lift, even if Trump loses next year's election to a Democrat who wants to ease sanctions as part of a future deal.
Treasury Secretary Steven Mnuchin stated that the action targets a crucial funding mechanism that the Iranian regime uses to support its terrorist network, including the Qods Force, Hezbollah, and other militants that spread terror and destabilize the region.
