OFAC Blacklists Iranian Bank, As Political Winds Suggest More on the Way, Say Analysts

By Brian Monroe

The U.S. government Wednesday blacklisted a fifth Iranian bank for allegedly helping the country build nuclear weapons, the latest move in escalating efforts to hem in Iran and convince Europe to follow suit, say analysts. The U.S. Treasury Department designated the Export Development Bank of Iran, which facilitates import and export trade, for purportedly aiding Iran's Ministry of Defense and subordinate entities in circumventing United Nations sanctions. U.S. officials have said repeatedly that the ministry is pursuing nuclear weapons, an allegation Iran has denied. Export Development Bank joins four other Iranian financial institutions - Bank Sepah, Bank Mellat, Bank Melli...