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U.S. Considering Sanctions Against Central Bank of Iran

David Cohen
David Cohen
WASHINGTON -- The U.S. Treasury's top official fighting the financing of terrorism says Washington is considering additional sanctions on the Central Bank of Iran to further isolate the country financially.

Under Secretary of the Treasury David Cohen made the comment today during testimony before lawmakers on the Senate Committee on Banking, Housing, and Urban Affairs.

"Although U.S. financial institutions are already generally prohibited from doing business with any bank in Iran, including the [Central Bank of Iran], further U.S. action against the CBI, if it attained multilateral support, could further isolate the CBI, with a potentially powerful impact on Iran," Cohen said. "I can assure the committee that all options to increase the financial pressure on Iran are on the table."

A number of senators on the committee pressed Cohen and other administration officials at the hearing to expand U.S. sanctions on Tehran in the wake of the alleged Iranian-orchestrated plot to assassinate Saudi Arabia's ambassador to the United States.

with agency reports