UANI Applauds U.S. Treasury Department for Taking Action Regarding Dubai’s Noor Islamic Bank
FOR IMMEDIATE RELEASE
March 1, 2012
Contact: Nathan Carleton, [email protected]
Phone: (212) 554-3296
UANI Applauds U.S. Treasury Department for Taking Action Regarding Dubai's Noor Islamic Bank
New York, NY - United Against Nuclear Iran (UANI) President, Ambassador Mark D. Wallace, issued the following statement today regarding the news that Dubai's Noor Islamic Bank has stopped doing business with Iranian banks:
We applaud the US Treasury Department for taking this action with Bank Noor. International sanctions on Iran are restricting the regime's ability to transact through financial institutions.
Responsible countries must comply with the international banking blockade on Iran. With this action Iran will no longer have a Dubai-based banking work-around.
According to the Wall Street Journal, Noor closed an operation "characterized as Iran's single-largest channel for repatriating foreign-currency oil receipts--facilitating as much as 60% of Iran's foreign oil sales by late last year..."
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