US, EU Sanction Major Iranian Bank

Law360, New York (January 24, 2012, 2:12 PM ET) -- The U.S. and the European Union sanctioned Bank Tejarat, Iran's third-largest bank, on Monday for helping other financial institutions and firms in the country skirt sanctions for their involvement in Iran's nuclear program.

Not only has Bank Tejarat repeatedly helped banks already subject to U.S. sanctions to circumvent those measures, but it has also directly contributed to Iran's nuclear development efforts by moving tens of millions of dollars to help the Atomic Energy Organization of Iran acquire uranium, the U.S. Department of the Treasury said....
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required