U.S. Blacklists Iranian Bank

[New York Times] Steven R. Weisman - The U.S. on Tuesday barred American financial institutions from doing business with Bank Sepah, a major Iranian bank, after concluding that it had been involved in illicit weapons programs. Last year, the U.S. took similar action against Bank Saderat. "Bank Sepah is the financial linchpin of Iran's missile procurement network, and has actively assisted Iran's pursuit of missiles capable of carrying weapons of mass destruction," said Stuart Levey, the Treasury undersecretary for terrorism and financial intelligence. Levey also said the U.S. had been in touch with Britain, France, Italy, and Germany to discuss the need to stop doing business with Bank Sepah.

2007-01-10 01:00:00

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