US slaps sanctions on Iran bank

WASHINGTON (AP) -- The Bush administration is imposing financial sanctions on the Export Development Bank of Iran for allegedly providing financial services in support of the country's weapons program.

The Treasury Department's action announced Wednesday means that any bank accounts or other financial assets belonging to the export development bank that are found in the United States are frozen. Americans also are prohibited from doing business with the bank.

The government contends the bank provided financial services to Iran's Ministry of Defense and Armed Forces Logistics, which controls Iran's ballistic missile research, development and production activities.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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