US Treasury imposes sanctions on 18 major banks in Iran

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US Treasury imposes sanctions on 18 major banks in Iran
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USA President Donald Trump’s administration on Thursday imposed sweeping sanctions on Iran’s banking sector, taking a significant new step aimed to disable Iran’s economy. Treasury Secretary Steven Mnuchin said: Our sanctions programs will continue until Iran stops its support of terrorist activities and ends its nuclear programs”.

The Treasury Department said its sanctions would be effective in 45 days, giving companies time to wind down transactions in Iran. Trump has pursued a policy of “maximum pressure” aimed at reining in Iran, the arch-rival of US allies Saudi Arabia and Israel.

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