Washington, D.C., United States (AHN) – President Barack Obama has issued an executive order freezing all assets of the Iranian government and financial institutions being held in the U.S.

In the order, which takes effect Monday, Obama declared that all property and interests in property of the Government of Iran, including the Central Bank of Iran, that are in the United States are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in. Iranian property that comes to the U.S. or taken possession by any U.S. person were also ordered frozen.

Obama directed the Secretary of the Treasury, Secretary of State and other U.S. government agencies to implement the order.

The President cited attempts by Iran’s central bank and other banks’ to conceal transactions of sanctioned parties and the weakness of the Islamic country’s anti-money laundering regulations as reason for issuing the order.

But the main aim of the latest sanction is to cripple Iran’s nuclear program that Washington believes is intended to make weapons of mass destruction. Tehran has repeatedly denied that it is building a nuclear bomb saying the nuclear program is for peaceful purposes.

The United Nations and the European Union had also imposed arms and economic embargo against Iran in an attempt to force Tehran to stop enriching uranium.

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