US imposes sanctions on Iran's Central Bank

WASHINGTON, Sept 20 (MENA) - US President Donald Trump on Friday said he has ordered sanctions on Iran’s central bank at "the highest level," CNBC reported.

The president made the remarks to reporters in the Oval Office, where he and Australian Prime Minister Scott Morrison were scheduled to hold a bilateral meeting.

Treasury Secretary Steven Mnuchin said in the office that the central bank was Tehran’s last source of funds.

"This is very big," Mnuchin said. "We've now cut off all source of funds to Iran."

The sanctions from the Office of Foreign Assets Control affect the Central Bank of Iran, the National Development Fund of Iran and another Iran-based company under its counter-terrorism authority, according to a press release from the Treasury.

"Treasury's action targets a crucial funding mechanism that the Iranian regime uses to support its terrorist network, including the Qods Force, Hizballah, and other militants that spread terror and destabilize the region," Mnuchin said in a statement.