The United States on Tuesday blacklisted Iran's fifth largest
state-owned bank, Bank Sepah, which the government said helped
finance weapons of mass destruction.
The measure announced by the Treasury Department would freeze
any bank accounts or other financial assets found in the United
States that belongs to the bank, and bar any US individuals and
financial institutions from doing business with the bank.
"Bank Sepah is the financial linchpin of Iran's missile
procurement network and has actively assisted Iran's pursuit of
missiles capable of carrying weapons of mass destruction," Stuart
Levey, the department's under secretary for terrorism and financial
intelligence said in a statement.
The Treasury Department said Bank Sepah provided financial
support and services to Iran's Aerospace Industries Organization
and other groups that oversaw Iran's missile program.
The department also named Bank Sepah International Plc, a wholly
owned subsidiary of Bank Sepah, and Ahmad Derakhshandeh, the bank's
chairman and director, as weapons proliferators and added their
names to its terror-blocking list.
(Xinhua News Agency January 10, 2007)
