What Happened: The Financial Action Task Force (FATF) is threatening to resume countermeasures against Iran if the country doesn't enact conventions against money laundering and terrorist financing before February 2020, Reuters reported Oct. 18.
Why It Matters: It's unlikely that Iran will fully comply with the implementation of the FATF's action plan due to wide-ranging U.S. sanctions, ongoing tensions in the Middle East, Tehran's decision to reduce compliance under the Joint Comprehensive Plan of Action nuclear deal and upcoming parliamentary elections.
Background: Iran launched its action plan with the FATF in 2016 and made some headway in its implementation by passing several laws to remove itself from the FATF blacklist. However, progress has been stalling since mid-2018.
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- Iran: Tehran Takes Another Hit at What Remains of the Nuclear Deal (Sept. 6, 2019)