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Iranian President's Chief of Staff Warns of Impact of FATF Blacklist
(Radio Farda) As the Financial Action Task Force (FATF) deadline of February nears, Iranian President Hassan Rouhani's Chief of Staff, Mahmoud Vaezi, warned that being blacklisted by the FATF will "deal a heavy blow" to Iran's economy. The FATF has given Iran until February to finalize laws against funding terrorism and money laundering. International banking, trade and foreign investments, all of which require compliance with FATF rules, can come to a standstill if Iran is put on the FATF's list of "Non-Cooperative Countries." Even Russia has officially warned Iran that it will cut economic ties if the country is blacklisted by the FATF.