US warns foreign banks on Iran links

The U.S. Department of the Treasury has warned foreign financial institutions that dealing with Iran or the Iranian financial sector may expose them to immediate and unannounced sanctions. The department has urged these institutions to take urgent measures to end any relations with Iranian financial entities subject to sanctions, in order to prevent the continuation of illegal financial transactions that allow Iran to evade international sanctions. The warning aims to tighten the grip on the financial network supporting the Iranian regime and to restrict its ability to operate outside the traditional banking system.

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