A global financial watchdog Force has given Iran until February to crack down on terrorism funding or risk deeper economic isolation.
The Financial Action Task Force said Friday it would effectively blacklist Iran if it doesn’t fulfill 10 promises made to pass and enforce laws against financing terrorist groups.
Iran has long-provided support to the Lebanese Hezbollah militant group and Palestinian armed groups, which Western countries view as terrorist organizations.
Worried about renewed U.S. sanctions over its nuclear program, Iran’s parliament voted this month to join a global convention against terror financing, but the bill hasn’t been ratified yet.
The FATF, an intergovernmental group based in Paris, gave Iran four more months to comply. If it doesn’t, the FATF could take measures further discouraging or hindering foreign investment in Iran.
This article provided by NewsEdge.