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| Syria-Lebanon-Iran |
| U.S. Treasury to impose sanctions on Iranian Bank |
| 2011-02-20 |
| The U.S. Department of Treasury designated Iranian Bank Refah for providing financial services to the Iranian Ministry of Defense and Armed Forces Logistics (MODAFL) and the Iran Aircraft Manufacturing Industrial Company (HESA), the Treasury’s official statement says. “Treasury has now exposed and sanctioned 20 banks owned by the Government of Iran for supporting Iran's nuclear and missile programs or terrorism,” said Under Secretary for Terrorism and Financial Intelligence Stuart Levey. “The pervasiveness of this illicit conduct explains why legitimate financial institutions everywhere are deciding to shun Iranian banks.” According to the statement, in recent years, Bank Refah has facilitated millions of dollars of weapons-related purchases by MODAFL. These purchases included missiles and tanks and enabled Iran’s leadership to maintain its fighter jets and submarines. Bank Refah also facilitated payments from HESA to businesses and individuals linked to Iran’s weapons-related procurement. |
| Posted by:Steve White |