Politics
The United States has warned foreign financial institutions that they could face US sanctions if they continue conducting business with Iran or its banking system.
The United States has warned foreign financial institutions that they could face US sanctions if they continue conducting business with Iran or its banking system. In an advisory issued by the US Treasury Department, Washington warned that foreign banks conducting transactions with Iranian financial institutions subject to sanctions could themselves become subject to US sanctions at any time and without prior notice. US officials urged such financial institutions to immediately end Iran-related transactions and business relationships.
The United States has further intensified economic pressure on Iran as regional tensions have escalated following the outbreak of war against Iran at the end of February. The effects of Iran’s retaliatory actions have also reached Gulf countries, while disruptions to key trade routes have contributed to increases in global energy and fertilizer prices. Washington has stepped up its campaign to economically isolate Iran since the end of August. US officials have warned allied countries and financial institutions that continuing business transactions with Iran could expose them to secondary sanctions.
