Treasury Department Targets Hezbollah's and Iran's Financial Institutions

By Andrew Cochran

In actions announced yesterday and today, the Treasury Department makes it clear that the U.S. will pursue the financial institutions which assist Hezbollah and the Iranian regime. Today, Treasury cut off access to the U.S. financial system by Iran's Bank Saderat, one of Iranian-owned banks, by making it impossible to conduct "U-turn transactions," which allow U.S. banks to process payments involving Iran that begin and end with a non-Iranian foreign bank. More.