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U.S. Senators Call on European Central Bank to Tighten Sanctions on Iran
(Telegraph-UK) Peter Foster - A powerful cross-party group of 36 U.S. senators has written to the European Council to urge the European Central Bank to sharply tighten its sanctions regime and deny Iran access to its euro-denominated foreign exchange reserves. "We are writing to request your immediate support to close a significant loophole in U.S.-EU sanctions policy," said the letter. They called for the ECB to stop Iran from using the "Target2" clearing system for global euro transactions.