FATF adds Iran to its blacklist

Mohamed Abdelghaffar

Those who launched the Islamic Revolution in Iran in 1979 tried to immunize it by exporting its ideals to other countries.

They believed this would protect the revolution against any possible attacks. However, this gave rise to a large number of militias and terrorist movements across the Arab world. These militias include the Hezbollah movement in Lebanon, the Houthi group in Yemen, and the Popular Mobilization Forces in Iraq.

All these groups depend on the support, including military, logistical and financial support, that comes to them from Iran’s mullahs. This is why these movements are strongly connected with the Iranian economy.

French blacklist

Iran used the 2015 nuclear deal with world powers in expanding its terrorist activities in the region. It did this by stepping up financial support to the different militias allied to it. Washington tried to stop this financial support by pulling out of the nuclear deal with Iran in 2019.

The French Financial Action Task Force (FATF), which fights money laundering, has added Ian to its terrorism financing blacklist.

According to a February 21 statement from the organization, Iran had failed to abide by international regulations on the financing of terrorism.

The Islamic Republic, it said, also failed in formulating laws that criminalize the financing of terrorism.

FATF said it would address its members to reconsider commercial ties with Tehran in the coming period.

Measures

Iran signed an agreement on money laundering in September 2016. It considered the signing of the agreement a step in the direction of lifting international economic sanctions on it.

Tehran also hoped that the signing of the agreement would help it receive money transfers from other countries, including from foreign banks and regional and international financial institutions.

However, the Islamic Republic had not showed abidance by any of the articles of the agreement. This was why the FATF warned against dealings with the Iranian regime because of its involvement in money laundering aiming at financing terrorism.