House Committee Approves Bill to Blacklist Iran’s Central Bank, Require Bank Certification

By Colby Adams

A congressional committee Wednesday approved an amended measure that would sanction the Central Bank of Iran and require U.S. financial institutions to certify that their foreign counterparts have no ties to blacklisted Iranians. Members of the House Foreign Affairs Committee adopted the Iran Threat Reduction Act (ITRA) by a voice vote, clearing the way for a floor vote this fall. While a companion measure has yet to be introduced in the Senate, over 90 senators signed a letter in August calling on President Obama to blacklist the central bank, also known as Bank Markazi. Leaders in the House of Representatives...