Obama Administration Further Eases Financial Sanctions on Iran 

The Treasury announced on Friday, however, that Iran could legally gain access to dollars through non-U.S. banks and institutions, provided they have no direct contact with the U.S. financial system.

“Foreign financial institutions, including foreign-incorporated subsidiaries of U.S. financial institutions, may process transactions denominated in U.S. dollars or maintain U.S. dollar-denominated accounts that involve Iran or persons ordinarily resident in Iran,” the Treasury guidelines say.


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