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Weekly Roundup: Mafia Named Italy’s Biggest Lender, Iraq Faces ‘Currency Attack’, and More
printAs foreign financial institutions await signs from the U.S. Treasury Department on how to comply with new Iran sanctions that became law on New Year's Eve More, the department's sanctions arm continued to add to its Iranian blacklist. On Thursday, the Office of Foreign Assets Control (OFAC) designated three energy companies-Fal Oil Compnay Ltd., Kuo Oil (S) Pte Limited and Zhuhai Zhenrong Company-under the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010. U.S. banks are prohibited from providing loans and assets totaling more than $10 million in any 12-month period to the businesses. More Eight U.S. senators penned a...
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