Iranian Commerce Minister Mehdi Ghazanfari on Tuesday said the central bank had been asked “to inject more foreign currency into the market, and the central bank has promised to do so,” according to the official IRNA news agency. - File photo
U.S. Targets Iran's Central Bank -- Wall Street Journal
HONOLULU—President Barack Obama signed into law on Saturday sanctions against Iran's central bank, marking the sharpest economic confrontation between Washington and Tehran yet and potentially stoking tensions in the Persian Gulf.
The measure, which Congress passed as part of the 2012 National Defense Authorization Act, penalizes foreign financial institutions that do business with Iran's central bank, Bank Markazi.
Mr. Obama has some flexibility in determining the strength and scope of the sanctions, which are intended to make it more difficult for Iran to sell its oil. But the administration intends to move forward with implementing the law in a way that doesn't damage the global economy, senior administration officials said.
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More News On Sanctions Against Iran
Iran Central Bank Moves to Rescue Rial as Allies Tighten Net -- Bloomberg Businessweek
U.S. Sanctions Target Iran's Central Bank -- NPR
Iran cbank bolsters rial after sanctions plunge -- Reuters
Iran grapples with currency market turmoil -- DAWN
Iran's central bank faces lost rial battle -- Asia Times
China downplays effect of new US sanctions on Iran -- Bloomberg Businessweek
Iran says its currency depreciation not linked to U.S. sanctions on Iran's central bank -- Xinhuanet
Why Iran's Currency Dropped To Its Worst Low In Over Two Decades -- Roshanak Taghavi, Huffington Post
Iran’s Central Bank: a Lesson -- Elliott Abrams, Council On Foreign Relations
Iran currency plummets: A sign US sanctions are taking hold? -- Christian Science Monitor
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