IRAN 

The West Continues Iran Squeeze

Western-led sanctions are continuing to squeeze Iran’s banking system and hurt its oil production. Japan on 20 March added Iran’s third-largest bank, state-owned Bank Tejarat, to its blacklist of Iranian banks that allegedly help Tehran develop its nuclear program. This follows on the heels of the previous week’s decision by Europe to exclude Iranian banks from the SWIFT global banking payment system (see page 18).

 

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