US blacklists major Iranian bank

[Barrett808]

The Bush administration has blacklisted one of Iran's biggest banks, alleging that it is used to transfer money to terrorist organisations.

The Treasury Department said it had cut state-owned Bank Saderat off from the US financial system entirely.

The bank, although unable to deal directly in the US, was previously able to make transactions via a bank in another country.

The US is calling for UN sanctions on Iran over its nuclear programme.

There has been no official reaction to the news from either Bank Saderat or Iran.

(more)

http://news.bbc.co.uk/2/hi/business/5329326.stm

[dipsydoodle]

1. Well that's sure one way

to encourage them to use Euros instead.

[AlamoDemoc]

2. too little too late. Iran knows, and so as many rich Arabs that investing

...that money invested in the US can be frozen at anytime, hence avoid it, and make sure your are not caught flat foot.

[cliss]

3. Here's why they are shooting themselves in the foot -

Iran has MASSIVE amounts of money. They have I believe around $50 billion cool ones, sitting in banks around Europe.

European Bankers LOVE IRANIAN DEPOSITS. They love money, and it makes a big difference in their bottom line, how much money they have deposited.

Whenever things get a little dicey, Iran starts making noises that they are going to pull out their deposits, and move them to other banks, like maybe Singapore or Hong Kong. European banks GO BALLISTIC. All they have to do is threaten to pull their funds, and they get down on their knees.

[JCMach1]

4. Seriously doesn't matter... other banks will step in as 3rd

parties for transactions...

More BS from BUSHco


Makes me want to go open an account with Bank Saderat just to thumb my nose at the Bush administration!!!