Accessibility links

Breaking News

U.S. Says Banks Must Guard Against Tehran Sanctions Evasion

WASHINGTON -- The U.S. Treasury Department is calling on U.S. banks to more closely monitor financial exchange houses and trading companies in the Middle East and elsewhere for Iranian attempts to circumvent economic sanctions.

Adam Szubin, director of the Treasury's Office of Foreign Assets Control, said Tehran is "increasingly" turning to such markets and firms in countries not subject to U.S. sanctions.

He said Iran is moving funds for nuclear proliferation activities and to support terrorists.

He said the transactions, which normally would be done through banks, conceal Iranian companies and account-holders -- including individuals designated under U.S. sanctions.

Szubin said the trend results from sanctions by Washington, the European Union, and other U.S. allies.

The West accuses Tehran of attempting to build nuclear weapons.

Tehran says its nuclear program is peaceful.

With reporting by AFP and AP
  • 16x9 Image


    RFE/RL journalists report the news in 27 languages in 23 countries where a free press is banned by the government or not fully established. We provide what many people cannot get locally: uncensored news, responsible discussion, and open debate.