The United States on Thursday blacklisted sixteen Iranian banks in a bid to staunch the flow of money to the Iranian regime. The US action included the designation of an Iranian military-affiliated bank under the US Treasury Department's counter-proliferation authority. "Today's action to identify the financial sector and sanction eighteen major Iranian banks reflects our commitment to stop illicit access to US dollars," said US Secretary Steven T. Mnuchin. "Our sanctions programs will continue until Iran stops its support of terrorist activities and ends its nuclear programs. Today's actions will continue to allow for humanitarian transactions to support the Iranian people," Mnuchin added. US treasury secretary identified the financial sector of Iran's economy as an additional avenue that funds the Iranian government's malign activities. The banks that have been blacklisted are the following: Amin Investment Bank, Bank Keshavarzi Iran, Bank Maskan, Bank Refah Kargaran, Bank-e Shahr, Eghtesad Novin Bank, Gharzolhasaneh Resalat Bank, Hekmat Iranian Bank, Iran Zamin Bank, Karafarin Bank, Khavarmianeh Bank (also known as Middle East Bank), Mehr Iran Credit Union Bank, Pasargad Bank, Saman Bank, Sarmayeh Bank, Tosee Taavon Bank (also known as Cooperative Development Bank), and Tourism Bank. The move represents a major pre-election push on a signature Trump administration policy that has succeeded in devastating the Iranian economy, while failing to moderate Tehran's behavior or limit its nuclear program. Since President Trump withdrew from the Iran nuclear deal in 2018, Tehran has exceeded the limits of the agreement and enriched more uranium than it did before the accord's signing. — Agencies