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.