Iran lawmakers pave way to join UN anti-terror finance convention

Iran’s parliament on Tuesday voted down a bid to stop the government from seeking to join a United Nations convention against terror financing, Tasnim news agency reported.

Lawmakers rejected the motion with 150 votes in favor, 73 against and nine abstentions out of 238 members present, Tasnim said. The proposal was sent to parliament’s National Security and Foreign Policy Committee for further review.

The bill was introduced by conservative lawmakers seeking to block implementation of Iran’s conditional approval to join the UN Convention for the Suppression of the Financing of Terrorism, one of the Financial Action Task Force (FATF) standards that require countries to monitor and report financial transactions to curb money laundering and terror funding.

Earlier this month, Iran’s Expediency Council, which resolves disputes between parliament and the Guardian Council under Supreme Leader Ali Khamenei, gave conditional approval for joining the treaty after years of delay. The council said implementation would depend on guarantees that Iran’s economic and security interests would not be compromised.

Hardline lawmakers argue that joining the convention could expose Iran’s financial channels used to bypass US sanctions and support regional allies such as Hezbollah and armed groups in Iraq and Yemen. They say Iran should only join once all sanctions are lifted.

Supporters of the treaty, including some moderate lawmakers and economic officials, argue that compliance with FATF standards could help reconnect Iran’s banking system to global financial networks and attract foreign investment amid a severe economic downturn.