CNN: The United States Treasury Department announced sanctions Wednesday against a Bahrain bank accused of helping Iran’s alleged nuclear proliferation activities. WASHINGTON (CNN) — The United States Treasury Department announced sanctions Wednesday against a Bahrain bank accused of helping Iran’s alleged nuclear proliferation activities.
The Treasury Department said Future Bank B.S.C. is controlled by Iran’s Bank Melli, which has already been sanctioned “for facilitating Iran’s proliferation activities.”
“Bank Melli goes to extraordinary lengths to assist Iran’s pursuit of a nuclear capability and ballistic missiles, while also helping other designated entities to dodge sanctions,” said Stuart Levey, under secretary for terrorism and financial intelligence.
“Banks and other entities owned or controlled by Bank Melli pose a serious threat to the integrity of the international financial system,” Levey said.
Future Bank was started in 2004 in a joint venture between Bank Melli; Bank Saderat, also an Iranian bank; and a private bank based in Bahrain.
Under the designation, any bank accounts and financial assets in the United States must be frozen, and American citizens will not be permitted to do business with the bank.
Bahrain “has taken responsible steps to try to prevent Future Bank from abusing the country’s financial system,” Levey said.
“Bahraini authorities have been closely monitoring Future Bank and took some steps after Treasury’s designations of Banks Melli and Saderat to attempt to prevent abuse by this institution.”