Friday, January 12, 2007

anti-Iran pressure ratchets up on German banks

Financial Times
The US was criticised for pressing German companies to cut business ties with Iran yesterday after Commerzbank decided to end dollar transactions with Tehran.

Germany's second-largest bank confirmed it would cease to conduct dollar-denominated business with Iran at the end of this month. The bank, which co-managed Iranian bond issues and has had a long presence there, said "there has been US pressure" as part of Washington's efforts to force Tehran to abandon its nuclear programme.[...]

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