Iran Says It Has Pulled Money Out Of Europe's Banks

Law360, New York (August 30, 2010, 4:35 PM EDT) -- Iran has pulled assets out of European banks in an expected move that the Islamic nation's semiofficial news organ called a bid "to fight back against the West's financial restrictions on Iran."

The United States and Europe have been taking a hard line on Iran over its nuclear ambitions and have been taking steps targeting Iran's energy and financial industries since the U.N. Security Council ratified its latest sanctions resolution in June.

"The central bank has transferred the (Iranian) banks' assets from Europe. Currently there is...
To view the full article, register now.