Key Points

FATF has urged countries and financial institutions to review, amend, and potentially terminate correspondent account relationships with Iranian financial institutions. FATF should now also impose increased audit requirements for financial institutions with branches or subsidiaries located in Iran and ensure that their financial institutions limit business relationships and financial transactions with Iran. While Iran is subject to an extensive framework of economic sanctions, FATF underscored that countries around the world must take additional steps to counteract the serious money-laundering risks emanating from the country.

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Dr. Saeed Ghasseminejad is a senior Iran and financial economics advisor at FDD specializing in Iran’s economy and financial markets, sanctions and illicit finance.

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Acknowledging that a longtime policy may have passed its sell-by date is rarely easy. Policy inertia is a powerful force, and large bureaucracies are almost always resistant to major changes in direction—especially when it comes to things like Iraq’s post-2003 political order that the United States did so much to create. But major events are afoot now in Iraq that cry out for serious reevaluation. Not only are important U.S. interests are at stake, but, as we’ve seen repeatedly in recent weeks, the lives of U.S. troops and diplomats are increasingly at risk as well. Recognizing the need for a significant shift in approach is the critical first step toward building a more sustainable and effective long-term Iraq policy, even if comes at the expense of acknowledging that Washington’s approach since 2003 has largely been a failure.

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Maas said he went into politics “because of Auschwitz.” Last year, the associate dean of the human-rights organization Simon Wiesenthal Center, Rabbi Abraham Cooper, told the Post: “With all due respect, it is time for the German foreign minister to drop his assertion that it was the lessons of Auschwitz that propelled him into public life. He clearly has not applied any of the lessons to the current situation. Instead of weakening the tyrannical, genocidal regime in Tehran, he is doing everything to strengthen Iran.”

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With a provenance so clearly dependent on the likes of Amiri, Sadr, and Hezbollah, Iraq’s protesters have rightly concluded that Allawi’s nomination is far more likely intended to salvage Iraq’s Iranian-dominated order than transform it. U.S. officials would be well-advised to proceed from the same assumption.

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Events

EVENT: FDD Virtual Town Hall: The Iran Protests

December 10, 2019 | 2:00

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