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US Treasury Department Adds Four Syrian Banks to Blacklist

By Colby Adams

U.S. officials Thursday blacklisted four Damascus banks and eight other entities under a series of executive orders targeting Syrian human rights violators and others tied to the Bashar al-Assad government. Under the designations, American financial institutions must block all assets and transactions linked to Agricultural Cooperative Bank, Industrial Bank, Popular Credit Bank and Saving Bank, and disclose the freezes to the U.S. Treasury Department's Office of Foreign Assets Control, or OFAC. In a statement, the department accused the banks of being owned or controlled by Syrian officials. A department spokesperson declined to elaborate further on the designations. Also designated Thursday...

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