Ahead of the Financial Action Task Force (FATF) deadline in February to join its conventions against funding terrorism and money laundering, Iranian president’s Chief of Staff Mahmoud Vaezi warned on Tuesday that being blacklisted by the international watchdog would “deal a heavy blow” to Iran’s economy.

“Talk to the people about the dimensions of this and make those who oppose it to be accountable to the people,” he said.

According to U.S.-backed Radio Farda, “International banking, trade and attracting foreign investments, all of which require compliance with the FATF rules, can come to a standstill if Iran is put on the FATF’s list of ‘Non-Cooperative Countries or Territories.’”

“If Iran were serious about combating terror financing and adhering to global anti-money laundering and terrorism financing standards, it would ratify the Palermo Convention and the Terrorist Financing Convention immediately,” said U.S. Secretary of State Mike Pompeo in October.

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