Sanctions imposed on Iranian bank in Belarus

• 24.01.2012, 10:29

The US Treasury Department imposed sanctions on Iran’s third-largest bank Tejarat and its subsidiary in Minsk Trade United Bank.

The news was spread by Newsweek magazine on Tuesday.

"Today's sanction against Bank Tejarat will deepen Iran's financial isolation, make its access to hard currency even more tenuous, and further impair Iran's ability to finance its illicit nuclear program," the magazine quotes US Treasury Undersecretary David Cohen.

All companies cooperating with the bank will be blocked access to the US financial system, Interfax-Zapad news agency reports.

US President Barack Obama said on Monday Washington would continue to toughen sanctions on Iran. The European Union countries agreed to restrict oil imports from Iran and slap sanctions against Iranian financial institutions.