U.S. Bans Transactions With Iranian Bank

The U.S. Treasury Department has named Iran's state-owned Sepah Bank as a proliferator of weapons of mass destruction and banned all transactions between it and U.S. businesses.

The Treasury Department also said any assets that the Sepah Bank may have under U.S. jurisdiction have been frozen.

The department's undersecretary for terrorism and financial intelligence, Stuart Levey, said today that the Sepah Bank has actively assisted Iran's pursuit of missiles capable of carrying weapons of mass destruction.

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