FATF extends freeze of restrictions on Iran
The Financial Action Task Force (FATF), which fights money laundering, has prolonged a freeze of some of its restrictions on Iran after verifying the Islamic Republic’s continued compliance with its directives.
The body first introduced the freeze last June after Iran adopted an Action Plan to adjust its anti-money laundering policies.
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It decided to prolong the suspension on Friday at the end of its plenary session “in light of Iran’s demonstration of its political commitment and the relevant steps it has taken in line with its Action Plan.”
“Iran will remain on the FATF Public Statement until the full Action Plan has been completed, until Iran implements the measures required to address the deficiencies identified in the Action Plan,” it said, however, referring to the body’s blacklist.
The move by the FATF to freeze its restrictions against Iran for the first time came a year after a landmark nuclear agreement between the Islamic Republic and world powers ushered in more open diplomatic relations between the country and much of the international community.
The agreement removed nuclear-related sanctions against Iran in exchange for certain limits on its nuclear activities.
Iran’s Ambassador to Britain Hamid Ba’eedinejad on Friday welcomed the renewal of the freeze, saying the European countries and the world’s big economies guaranteed the expansion of banking relations with Iran within the nuclear agreement with their decision to extend the freeze of relations against Iran.
“The decision was taken under circumstances in which some hard-line circles and centers in the United States had asked President Donald Trump to prevent it in whatever way possible,” he said.
“However, under pressure from European countries, the US eventually accepted the [FATF] text supported by all the world’s important countries,” the envoy added.
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