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World’s top banks have stopped dealing with Iran, says senior US Treasury official

Sample ImageNCRI – U.S. Treasury undersecretary for terrorism and financial intelligence Stuart Levey told the Senate Finance Committee Tuesday that the world's top banks have largely stopped dealing with Iran regime in response to U.S. and U.N. sanctions.

"Foreign-based branches and subsidiaries of Iran's state-owned banks are becoming financial pariahs — threatening the viability — as banks and companies around the world resist dealing with them," Levey said in prepared remarks to the panel.

The U.S. Treasury has blacklisted several Iranian regime's banks, including its largest, Bank Melli for supporting Tehran's efforts to develop nuclear weapons systems and fund terrorist activities.

On March 3, the UN Security Council adopted its third resolution imposing sanctions against the ruling mullahs in Iran. The resolution warned the member states from entering into financial transactions with the Iranian banks.

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This report was compiled from wire dispatches