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Treasury Department Blacklists Iranian Bank, Cautions U.S. Institutions on Egyptian PEPs
printThe U.S. Treasury Department Thursday blacklisted an Iran-based bank for facilitating the purchase of millions of dollars worth of missiles and other weapons for the country's military. Tehran-based Bank Refah processed the payments for the Iranian Ministry of Defense and Armed Forces Logistics and its subsidiary, the Iran Aircraft Manufacturing Industrial Company, the department said. The bank is the 20th Iranian bank sanctioned by the department's Office of Foreign Assets Control. The European Union blacklisted Bank Refah in July in response to the bank's takeover of Bank Mellat's operations after the latter institution was sanctioned, the department said. Bank Refah...
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