German bank sanctioned by US Treasury - KWWL - Eastern Iowa Breaking News, Weather, Closings

German bank sanctioned by US Treasury

WASHINGTON (AP) -- The United States Treasury has slapped sanctions on a German-based bank it accuses of helping Iranian institutions involved in illegal nuclear trade.

Steps have been taken against Europaeisch-Iranische Handelsbank that would isolate the bank from the U.S. financial system.  Undersecretary for Terrorism and Financial Intelligence Stuart Levey calls the bank "a key financial lifeline for Iran" and says it has provided "financial services to Iranian WMD proliferaters."

The United States and Europe have been looking for further ways of pressuring Iran since the United Nations' Security Council passed international sanctions this year.


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