WASHINGTON Jan 10 The U.S. Treasury urged U.S.
banks on Thursday to exercise greater diligence in dealing with
foreign trading firms and exchange houses that may seek to evade
sanctions on Iran.
"The purpose of this advisory is to alert U.S. financial
institutions to practices being used to evade U.S. sanctions
against Iran and, accordingly, to suggest enhanced due
diligence," the Treasury said in its advisory.
"The advisory is not intended to suggest that U.S. financial
institutions close accounts they hold for third-country exchange
houses and/or trading companies," it added.
The Treasury Department's Office of Foreign Assets Control
(OFAC) said evasive practices could include failing to disclose
that funds to be transferred may originate or be destined for
The United States and the European Union, often accompanied
by other states, have erected increasingly complex financial
sanctions against Iran, which Washington and its allies suspect
of pursuing nuclear weapons.
Iran denies this, saying its atomic program is for peaceful