WASHINGTON (AP) -- The Bush administration has moved to clamp down on Tehran by barring financial institutions from routing certain money transfers through the United States on behalf of Iranian banks, Iran's government and others in that country.
Specifically, the Treasury Department announced Thursday that it is revoking Iran's so-called "U-turn" license that until now has allowed for such money transfers.
"This regulatory action will close the last general entry point for Iran to the U.S. financial system," according to a department release on the action.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.