Legitimacy of banking sanctions in the international arena with emphasis on banking sanctions against Iran

Abstract

Central bank sanctions are one of the types of economic sanctions. Various forms of economic sanctions in the strict sense of the word, including blocking and confiscating the assets of the sanctioned country, prohibiting export and import and buying and selling goods, blocking assets, (such as the blocking of Iranian assets by the United States following the occupation of the American embassy in Iran) ), currency and monetary restrictions such as increasing international tariffs and not granting loans or reducing credits and inappropriate exchange rate changes. Today, economic sanctions can be mentioned as a tool to achieve foreign policy goals from other countries. The goal of the sanctioning country is to distort the economic relations of the sanctioned country and weaken the system of the target country, through the quantitative and qualitative reduction of the international trade level of that country. At present, the countries that have more economic and military power in the international arena and mainly include Western countries, have a share in controlling the international economy by using economic tools and various related sanctions, including bank sanctions. They act to weaken or expose the economy of the country targeted by sanctions in order to secure their political interests and dominate other countries. For this reason, some Western analysts consider sanctions as a tool that also weakens diplomacy. Therefore, in this article, the legitimacy of banking sanctions in the international arena has been investigated, with an emphasis on banking sanctions against Iran. Also, in this topic, the content of various opinions and decisions resulting from the sanctions of the Central Bank of the Islamic Republic of Iran has been examined.