U.S. Tightens Pinch on Iran's Finances, Shipping

(Reuters) The U.S. Treasury Department announced on Tuesday it was targeting financial networks that support the Islamic Revolutionary Guard Corps (IRGC) and the Islamic Republic of Iran Shipping Lines (IRISL). "Both the IRGC and IRISL are major institutional participants in Iran's illegal conduct and in its attempts to evade sanctions," said Stuart Levey, Treasury's undersecretary for terrorism and financial intelligence. The Treasury order named two Iranian banks - Ansar Bank and Mehr Bank - as supporters of the IRGC and said it was banning them from participating in U.S. financial and commercial systems and barring U.S. citizens from any dealing with them.

2010-12-22 08:56:55

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