Current Events

AFP: The US Treasury on Monday announced sanctions against Iran's Bank Tejarat, claiming all of the Islamic Republic's major state-owned banks have now been subjected to punitive measures. Just hours after the European Union slapped an embargo on Iranian oil, the Treasury Department announced measures to close a financial noose around the regime -- which is accused of building nuclear weapons. The sanctions are expected to make it more difficult for Iran to do business with the rest of the world and to get revenue from its vast Iran and gas exports. "At a time when banks around the world are cutting off Iran and its currency is depreciating rapidly, today's action against Bank Tejarat strikes at one of Iran's few remaining access points to the international financial system," said senior Treasury official David Cohen >>>