Free Republic

US Bans, Freezes assets of Fifth-largest Iranian Bank "Financial institutions and other companies have begun to re-evaluate their business relationships with Iran. Many leading financial institutions have either scaled back dramatically or terminated entirely their Iran-related business," said Stuart Levey, the treasury's under secretary for terrorism and financial intelligence, at a press conference Tuesday. "They have done so of their own accord, many concluding that they did not wish to be the banker for a regime that funds terrorism, defies the UN security council in pursuing a nuclear program and deliberately conceals the nature of its business." He also pointed...