The Iranian flag above the new Phase 3 facility at the Persian Gulf Star gas condensate refinery in Bandar Abbas, Iran, in 2019.
Ali Mohammadi | Bloomberg | Getty Images
A global dirty money watchdog on Friday placed Iran on its blacklist after the country failed to comply with international anti-terrorism financing norms.
The decision comes after more than three years of warnings from the Paris-based Financial Action Task Force (FATF) urging Tehran to enact terrorist financing conventions.
However, the FATF appeared to leave the door ajar for Iran saying "countries should also be able to apply countermeasures independently of any call by the FATF to do so."