[New York Times] Steven R. Weisman - The World Bank, newly caught up in the Bush administration's campaign against Iran, has had to suspend $5.4 million in payments for earthquake relief, sanitation and other projects in Iran in response to new American sanctions on leading Iranian banks, World Bank officials say. The U.S. has barred dealing with four of Iran's largest banks, accusing them of involvement in terrorism, or nuclear or missile programs. The World Bank step, while small, illustrates the extraordinary reach of American sanctions, even though they were imposed unilaterally after the U.S. was stymied in its recent efforts to get the UN Security Council to approve wider penalties.
2007-11-05 01:00:00Full ArticleBACK Visit the Daily Alert Archive