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(Reuters) Iran is finding it increasingly difficult to access the financial services it needs to run its economy and may lose up to $60 billion in energy investments due to global sanctions, U.S. officials told lawmakers on Wednesday. "With great regularity, major companies are announcing that they have curtailed or completely pulled out of business dealings with Iran," said Stuart Levey, U.S. Treasury undersecretary for terrorism and financial intelligence. Levey said the sanctions were restricting Iran's access to dollars and were the likely cause of a nearly 20% plunge in Iran's rial currency in September. 2010-12-02 10:08:30Full Article
U.S.: Sanctions Inflicting Economic Pain on Iran
(Reuters) Iran is finding it increasingly difficult to access the financial services it needs to run its economy and may lose up to $60 billion in energy investments due to global sanctions, U.S. officials told lawmakers on Wednesday. "With great regularity, major companies are announcing that they have curtailed or completely pulled out of business dealings with Iran," said Stuart Levey, U.S. Treasury undersecretary for terrorism and financial intelligence. Levey said the sanctions were restricting Iran's access to dollars and were the likely cause of a nearly 20% plunge in Iran's rial currency in September. 2010-12-02 10:08:30Full Article
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