The Financial Actions Task Force gave Iran four more months to pass into law the Palermo and anti-money laundering conventions.

The task force, located in Paris, announced on Friday that if Iran does not accomplish this objective by February 2020, it will call on its members to take reactionary measures against Iran.

FATF has extended Iran’s deadline several times in the past.

The FATF statement says that if Iran does not pass these anti-money laundering conventions into law by February of 2020, the FATF will end its suspension of reactionary measures and will ask its members and all judicial fields to take necessary and effective action in response.

The FATF also asked its members to effectively monitor Iran’s financial transactions and do a more serious job of auditing the financial groups that are active in Iran.

The statement also says that the members of FATF must take reactionary measures by the request of the task force and must also be able to take those measures independently from the FATF.

International companies believe that if Iran wants to attract investors, especially after US sanctions, following the FATF regulations are of utmost importance.

France, Britain, and Germany have conditioned the execution of INSTEX, the Iran-Europe special trade vehicle, to the implementation of the FATF conventions in Iran.

The biggest opponents of the anti-financial support of terrorism and anti-money laundering conventions in Iran are those closest to the supreme leader of the country, Ali Khamenei, and the Islamic Revolutionary Guard Corps (IRGC). They believe these conventions might prevent them from supporting Hezbollah and Hamas and Iran’s other proxy groups.

Iran has been on FATF’s blacklist since 2008.