South Korea will move to temporarily close the local branch of an Iranian bank as part of its effort to join United Nations sanctions over Iran’s nuclear program, according to people familiar with the matter.
But the move will likely disappoint U.S. officials, who praised stronger measures implemented by the European Union and Japan, because Seoul doesn’t appear ready to further sever business ties. South Korea’s reluctance to move more dramatically indicates how tough it can be for countries to put sanctions in place on resource-rich Iran.
