US Places New Sanctions On Iranian Banks

Law360, New York (December 21, 2010, 3:35 PM EST) -- The U.S. Department of the Treasury said Tuesday it had instituted new sanctions against Iranian banks and other companies that allegedly assist the Islamic Revolutionary Guard Corps and the country’s national maritime carrier in illicit activities and deceptive behavior.

The new sanctions target Bonyad Taavon Sepah for providing services to the IRGC, Ansar Bank and Mehr Bank for providing financial services to the IRGC, and Moallem Insurance Co. for providing marine insurance to vessels of the Islamic Republic of Iran Shipping Lines, according to the Treasury...
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