US says foreign financial institutions doing business with Iran may be sanctioned without notice
The alert says foreign institutions that keep Iran ties could lose U.S. correspondent accounts and face civil or criminal penalties.
- On Monday, the Treasury Department alerted foreign financial institutions that they face immediate sanctions without notice if they continue transacting with sanctioned Iranian entities.
- Washington has intensified efforts to sever Iran's financial lifelines during the ongoing war that began on February 28, when Washington and Israel attacked Iran, prompting retaliatory strikes on Gulf states and Israel.
- The Treasury Department warned that "strict conditions" could be imposed, including prohibiting access to correspondent accounts, for institutions providing services to Iranian banks or their branches in third countries.
- Institutions face civil and criminal enforcement penalties if Iran-related transactions cause the Treasury Department or other entities to violate sanctions, the department added.
- In recent weeks, Washington has warned countries to cut business ties with Iran or risk having key entities disconnected from the dollar-based financial system, further isolating the nation's economy.
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61 Articles
The US Treasury Department has issued a warning to financial institutions that continue to do business with Iran or its financial sector, and stressed that Washington may impose sanctions against them without prior notice
The US Treasury Department has issued a warning to financial institutions that continue to do business with Iran or its financial sector, and stressed that Washington may impose sanctions against them without prior notice.
Washington warns that financial institutions that continue to carry out operations with sanctioned Iranian banks can be penalized without prior warning, at a new stage of economic pressure on Tehran.
US threatens sanctions against foreign banks doing business with Iran
The United States has warned foreign financial institutions that they risk sanctions if they continue conducting business with Iran or entities within the country’s banking sector. The US Treasury issued the warning on Monday in an alert, urging foreign banks to immediately end transactions and business relationships involving Iranian financial institutions already under US sanctions. […] US threatens sanctions against foreign banks doing busine…
The US government has reiterated its threat to impose sanctions on any international financial institution that engages in transactions with Iran or the Iranian banking sector. “Foreign financial institutions that continue to engage in transactions with sanctioned Iranian financial institutions may be subject to action at any time, without notice, and must take immediate steps to terminate such activities and relationships,” the US Treasury Depa…
Washington warns financial institutions around the world, while Tehran rejects dialogue under sanctions and military pressure
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