US tightens screws on Iran's banks: Treasury

[IndependentDem]

Source: AFP

The United States has further restricted Iran's access to the US financial system by banning certain types of fund transfers, the Treasury Department said Thursday.

The Treasury said it would prevent so-called "U-turn" transfers to Iran to prevent the Iranian government from financing terrorist groups and nuclear proliferation.

Prior to the ban, US financial institutions were authorized to process certain fund transfers for the direct or indirect benefit of Iranian banks, other persons in Iran or the government of Iran, the Treasury explained.


Read more: http://www.africasia.com/services/news/newsitem.php?area=mideast&item=081106205107.zn5vb7m3.php

[dipsydoodle]

1. So presumably it will now make sense

for Iran to refuse completely to accept petrodollars in payment for oil.

[IndependentDem]

2. and what do you think will happen after that?

:nuke: