U.S. Sanctions Iranian Financial Sector

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Wednesday, October 14, 2020
Author: 
Bruce Zagaris
Volume: 
36
Issue: 
10
Abstract: 

On October 8, 2020, the U.S. Treasury announced sanctions on eighteen major Iranian banks.  The Office of Foreign Asset Control (OFAC) sanctioned sixteen Iranian banks for operating in Iran’s financial sector and one bank owned or controlled by a sanctioned Iranian bank. In addition, OFAC designated an Iranian military-affiliated bank under Treasury’s counter-proliferation authority.[1]



[1]    U.S. Department of Treasury, Treasury Sanctions Eighteen Major Iranian Banks, https://whome.treasury.gov/news/press-releases/sm1147