Iran General NewsU.S. punishes Bahrain bank for its Iran ties

U.S. punishes Bahrain bank for its Iran ties

-

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.”

Latest news

The World Must Acknowledge the Iranian People’s Right to Self-defense

Victor Hugo once said: “When dictatorship is a fact, revolution becomes a right.” Throughout history, this has been the...

Iran: 60% Of Population Is Poor

The livelihood baskets of the Iranian people are shrinking dramatically. This, in turn, has introduced new concerns to protect...

The implications of EU’s terrorist designation of the Revolutionary Guards (IRGC)

The European Parliament called on January 18 for the European Union to list Iran's Revolutionary Guards (IRGC) as a...

Iran’s Regime Is Hiding Human Rights Violations In Its Prisons

With more than four months into Iran’s latest round of nationwide uprisings, the brutality of the Iranian regime’s security...

How Internet Censorship Is Damaging Iran’s Economy

While in the last four months, internet access in Iran has been cut off or severely limited, the regime’s...

Iran Regime’s Upcoming Budget Bill Will Lead To More Protests

On January 12, the Iranian regime’s president Ebrahim Raisi handed over the country’s budget bill to the parliament.  According...

Must read

EU tightens Iran sanctions and mulls oil ban

Reuters: The European Union tightened its sanctions against Tehran...

Iran-Brazil trade to increase to 10 bln

Iran Focus: Tehran, Iran, Nov. 07 – Iran aims...

You might also likeRELATED
Recommended to you