The United States banned its financial institutions from serving as a conduit for Iranian transactions.
The ban, instituted Nov. 6, affects deals between foreign entities and Iranian financial institutions that must be routed through U.S. entities.
A substantial portion of the worldâ€™s finances is routed through the United States, and the rescission of Iranâ€™s â€œU-turnâ€ license to conduct such deals will further restrict its abilities to trade.
Multinational groups have said Iranâ€™s financial institutions fail to meet standards to prevent money-laundering terrorist financing, a factor cited in the U.S. Treasuryâ€™s decision.
The ban also aims to squeeze Iran further toward having the Islamic Republic end its nuclear weapons program.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.