Sanctions hurting Iran's access to capital -U.S. report

WASHINGTON Thu Feb 7, 2013 10:59am EST

WASHINGTON Feb 7 (Reuters) - Western sanctions on Iran contributed to a drop in Iran's access to global sources of capital last year, the U.S. Treasury department said in a report to Congress.

Foreign banks cut their lending exposure to Iran by the equivalent of $9.1 billion in 2012, down 53 percent, said the report, a copy of which was obtained by Reuters on Thursday. The report, which cited information from the Bank of International Settlements, said broader international sanctions against Iran and other perceived weaknesses in the investment climate in Iran also contributed to the drop.

The United States and the EU have imposed sanctions on Iran that aim to slow funding to Tehran's nuclear program. The West says the program is developing nuclear weapons, a charge Tehran denies.

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Comments (1)
RonRaygun wrote:
As the comments section gets increasingly subjugated to hypocritical censure, one has to wonder how these newsfeed, ‘newspapers’, can even consider themselves a valid part of the free media…

Feb 07, 2013 1:40pm EST  --  Report as abuse
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