daaitoulaam diary logo
The thoughts of an American expat in Hong Kong living on an "underlying island"

This is a single entry from the Daai Tou Laam Diary. Please check out the homepage of the Daai Tou Laam Diary for the latest blog entries.

US Extorting Banks To Follow Dear Leader's Policies

The second story in today's SCMP reports on the US Justice Department leaning on international banks doing business in Iran, one of the prime current targets for Bushevik demagoguery.

HSBC and Standard Chartered have been caught up in a US Justice Department probe into violations of sanctions on Iran, it was reported last night.

The investigation led to an £80 million ($1.1 billion) penalty being paid by the Dutch bank ABN Amro which, along with Swiss giant UBS, has cut back its ties with Tehran under pressure from Washington.

The original story can be found here at The Independent of the UK, which provides greater detail on which banks have been targeted and what their current operations are. HSBC and Standard Chartered both state they have no intention of reducing their operations in Iran.

permalink | Comments (0) | Trackbacks (0)
Defined tags for this entry: