The White House issued an executive order Tuesday blacklisting two banks and granting the U.S. Treasury Department the power to sanction any entity that acquires Iranian oil and petrochemicals. The order goes beyond a previous prohibition that barred only direct purchases of the Iranian products via formal transactions. Under the latest order, companies cannot purchase or acquire Iranian petrochemical products through any means, including informal value transfers or bartering, U.S. officials said in a conference call Tuesday afternoon. Going forward, the U.S. Treasury Secretary may also blacklist non-U.S. banks deemed to have knowingly facilitated financial transactions for the National Iranian...
A bipartisan group of senators introduced legislation Wednesday that would bar foreign financial institutions that help Iran's central bank circumvent currency restrictions from holding correspondent accounts in the United States.
New U.S. Treasury Department banking restrictions designed to hamstring Iran's nuclear program will curtail personal remittances and the ability to receive payments for licensed exports to the country, say analysts.
The U.S. House of Representatives Wednesday approved legislation that would require the White House to identify interbank messengers serving Iran's financial sector and order companies to divulge their Iranian ties.