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New U.S. regulations and a reported sanctions probe by New York officials are increasing pressure on the reinsurance sector, an industry where knowing your customer can prove difficult, say consultants.
U.S. lawmakers will likely move to strengthen restrictions on correspondent accounts in the reconciled version of an Iran sanctions bill expected to pass the Senate by June, say congressional sources.
The authors of a U.S. embargo against Iran's central bank and petroleum industry called on the White House Thursday to be strict with foreign financial institutions under the law's statutes.
U.S. senators Monday approved a reconciled defense appropriations bill that would sanction Iran's central bank, making only a single nod to White House concerns that the bill would displease trade partners.
