Skip to comments.Iran's largest bank blacklisted
Posted on 09/08/2006 2:40:33 PM PDT by nuconvert
Iran's largest bank blacklisted
From correspondents in Washington
September 09, 2006
THE US Treasury Department announced overnight that it had blacklisted one of Iran's largest banks, Bank Saderat, from having any links with US-owned banks.
The move effectively cuts Iran's state-owned Bank Saderat off from conducting any business linked to the US financial system.
The Treasury Department said it blacklisted Saderat because of its "support for terrorism."
"Bank Saderat facilitates Iran's transfer of hundreds of millions of dollars to Hezbollah and other terrorist organisations each year," said Stuart Levey, undersecretary for terrorism and financial intelligence.
"We will no longer allow a bank like Saderat to do business in the American financial system, even indirectly," Mr Levey said.
According to the US Treasury, the bank is one of Iran's largest with some 3400 branch offices.
The Treasury also said the bank had transferred funds to other "terrorist organizations" including Hamas, the Popular Front for the Liberation of Palestine-General Command and the Palestinian Islamic Jihad.
(Excerpt) Read more at theaustralian.news.com.au ...
We used to joke that the Sovran bank out east was the 'Soviet-Iranian' bank.
Well, the best bank name is "Third fifth" with [for a poster] the two empty fifths in horizontal position and the third one open and still partially full.
It pains me as an Iranian American to see that such a venerable Iranian financial institution should be dragged through the mud like this, but as along as the mollas' dirty hands are all over these institutions it a necessary action and may it be the beginning of complete sanction of this regime -- although the mollas have powerful friends over there in that degenerate europe who are pulling ALL the strings to save and preserve them.
(Post no. 446)