U.S. Slaps Sanctions on Iranian State-Owned Bank

May 17, 2011


Agence France-Presse

Iran's state-owned Bank of Industry and Mine (BIM) was sanctioned by the U.S. Department of the Treasury, freezing its assets. The Treasury Department alleged that BIM provided financial services to Bank Mellat and Europaisch Iranische Handelsbank (EIH), two banks previously designated in connection with Iran's nuclear program, enabling them to circumvent international sanctions.