House Democratic Whip Steny Hoyer on Monday blasted an international body governing the money laundering “blacklist” for granting Iran a one-year reprieve from sanctions, after deciding Tehran has made progress toward implementing anti-money laundering and anti-terrorist financing measures.
Hoyer commended the 37-nation Financial Action Task Force for continuing to label Iran as a “high-risk” country, but said the group conceded too much too soon by lifting the countermeasures.
“This sends mixed messages, the effect of which may be seen as a victory for Iran’s mullahs,” the Maryland Democrat complained in a statement issued Monday about the group’s decision. “Global financial entities have resisted doing business in Iran not because — as the mullahs claim — of a U.S. conspiracy, but because Iran, by FATF’s own conclusion, remains a state funder of terror and other illicit activities whose financial system is an integral part of its doing so.”
“I am alarmed by actions of FATF or other bodies that give Iran’s leaders any reason to believe that their country can reintegrate into the international banking system without changing their dangerous behavior,” Hoyer continued. “Iran can’t have it both ways — wanting to be treated like a normal member of the international community while continuing to act as a pariah, sponsoring terror and fueling instability in its region.”
The group is giving Tehran one year to show improvement.
It lauded Iran for adopting an action plan and making a “high-level political commitment” to seeing it carried out.
But if the group “determines that Iran has not demonstrated sufficient progress” it will re-impose penalties, the group stated, while also promising to monitor Tehran closely.
