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U.S. Treasury Department Promises to Block Iranian Access to U.S. Dollars
(Washington Free Beacon) Adam Kredo - In a June 7 letter to Congress, the U.S. Treasury Department wrote: "The administration has not been and is not planning to grant Iran access to the U.S. financial system....The U.S. Department of Treasury is not working on behalf of Iran to enable Iranian access to U.S. dollars elsewhere in the international financial system, nor are we assisting Iran in gaining access to dollar payment systems outside the U.S. financial system." "The concerns that remain regarding Iran's economy, such as transparency issues, corruption, and regulatory obstacles, have given businesses and banks pause when considering whether to engage with Iran. We have been clear with audiences here and abroad that Iran has a lot of work to do to address these areas of concern if it wants to attract investment and trade. We are encouraging our European partners to make clear to Iran that Iran must address the shortcomings in its financial system if it wants to reintegrate into the international economy. When we speak to the private sector...it is not to encourage them to do business with Iran."