[Reuters] David Lawder - The U.S. Treasury on Thursday revoked Iran's license for "U-turn" bank transfers, which briefly enter the U.S. before being sent to offshore banks. "This regulatory action will close the last general entry point for Iran to the U.S. financial system," the Treasury said in a statement. It said the action was aimed at increasing financial pressure on Tehran to end support of terrorist groups as well as nuclear and missile proliferation.
2008-11-07 01:00:00Full ArticleBACK Visit the Daily Alert Archive