From the link:
First, while Iranian financial institutions are prohibited from directly accessing the U.S. financial system, they are permitted to do so indirectly through a third country bank for payment to another third country bank. Today, we have cut off one of the largest Iranian state-owned banks, Bank Saderat, from the U.S. financial system. Here is why: This bank, which has approximately 3400 branch offices, is used by the Government of Iran to transfer money to terrorist organizations. Iran uses Saderat to transfer money to Hizballah. Iran also uses it to transfer money to E.U. designated terrorist groups Hamas, the PFLP-GC and the Palestinian Islamic Jihad. For example, since 2001, a Hizballah-controlled organization received $50 million directly from Iran through Saderat. Hizballah uses Saderat to send money to other terrorist organizations as well. Hizballah has used Bank Saderat to transfer funds, sometimes in the millions of dollars, to support the activities of other terrorist organizations such as Hamas in Gaza. We will no longer allow a bank like Saderat to do business in the American financial system, even indirectly.
Paging the Brits...
Iran's Nine-Digit Line Item for Terror
Claudia Rosett ping, backhoe :)
So what is the US to do? Impose economic sanctions on Great Britain because of their support for Iran, and Iranian business? Specifically BP. We must face up to the fact that we, the US, brought this entire Iranian mess upon ourselves (thanks Jimmah AND a spineless congress). If we economically destabilize Iran, it hurts British, German, and other EU interests. I did not exactly find an "or else" ultimatum from Paulson in this piece. What if the Blue Chips tell the US Treasury to p!ss up a rope? Will the Treasury send enforcement to British soil?