US takes steps against European-Iranian bank

Associated Press

WASHINGTON — The United States has slapped sanctions on a German-based bank it accuses of helping Iranian institutions involved in illicit nuclear trade.

The Treasury Department announced Tuesday that it had taken steps against Europaeisch-Iranische Handelsbank that would isolate the bank from the U.S. financial system.

Undersecretary for Terrorism and Financial Intelligence Stuart Levey calls the bank “a key financial lifeline for Iran” and says it has provided “financial services to Iranian WMD proliferators.”

The United States and Europe have been looking for further ways of pressuring Iran since the United Nations’ Security Council passed international sanctions this year.


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