U.S. Sanctions Iranian Bank

    Iranian rial notes sit in a money-counting machine at a foreign currency trader's store in Tehran, Iran, on Thursday, Jan. 12, 2012. The rial weakened 20 percent in the past month at the official rate offered to Iranians traveling abroad, and by even more in the bazaar, where demand for dollars and euros is surging. Photographer: Ali Mohammadi/Bloomberg via Getty Images

    Ali Mohammadi, Bloomberg / Getty Images

    Iran may close the Strait of Hormuz, and the U.S. isn’t taking that threat mildly. The country’s third-largest bank was sanctioned by the U.S. Treasury Department Monday as officials charged Bank Tejarat with assisting Iranian agencies in attempts to obtain uranium. The bank may have also had a role in providing financial support to Iranian nuclear programs, Treasury officials alleged. The move, which cuts one of the few trade ties remaining between Iran and Western nations, follows a ban President Obama put in place last month to cease all commerce between America and Iran’s central bank.

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