UK severs ties with Iranian banks
21-Nov-2011 (one comment)

The UK government has imposed new financial restrictions against Iran which will cut off all financial ties with Iranian banks.

It follows the International Atomic Energy Agency's report on Iran and concerns about its nuclear programme.

From 1500 GMT on Monday, all UK credit and financial institutions are required to cease all transactions with banks including the Central Bank of Iran.

It is the first time the UK has cut off a country's banking sector in this way.

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