Iran Sanctions US Moves To Isolate Major Banks

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Iran Sanctions US Moves To Isolate Major Banks

The Trump administration has imposed sanctions on 18 “major” Iranian banks in one of the most extensive such moves by Washington against Tehran in months.

The order will also penalise non-Iranian institutions trading with them, effectively cutting the banks off from the international financial system.

The US says it is seeking to choke off Iran’s access to funds to pursue what it regards as aggressive activities.

Iran’s UN ambassador accused the US of committing “economic terrorism”.

The latest punitive measure comes weeks after the US declared the return – or “snapback” – of UN sanctions on Iran that were lifted under a 2015 international deal over Iran’s nuclear programme, accusing Tehran of having breached that agreement.

Other members of the UN Security Council, however, are not in agreement with the US, saying Washington cannot trigger the snapback mechanism because it abandoned the nuclear deal in 2018.

The Trump administration has imposed sanctions on 18 “major” Iranian banks in one of the most extensive such moves by Washington against Tehran in months.

The order will also penalise non-Iranian institutions trading with them, effectively cutting the banks off from the international financial system.

The US says it is seeking to choke off Iran’s access to funds to pursue what it regards as aggressive activities.

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Iran’s UN ambassador accused the US of committing “economic terrorism”.

https://www.bbc.com

The latest punitive measure comes weeks after the US declared the return – or “snapback” – of UN sanctions on Iran that were lifted under a 2015 international deal over Iran’s nuclear programme, accusing Tehran of having breached that agreement.

Other members of the UN Security Council, however, are not in agreement with the US, saying Washington cannot trigger the snapback mechanism because it abandoned the nuclear deal in 2018.

Iran Sanctions US Moves To Isolate Major Banks

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