Financial Times FT.com

US alerts banks to risks of Iran support

By Stephanie Kirchgaessner in Washington

Published: May 13 2008 03:00 | Last updated: May 13 2008 03:00

The Bush administration is seeking to broaden the scope of its enforcement tools to rein in Iran's nuclear programme, including greater scrutiny of global banks that may be violating US export control rules by financing prohibited transactions.

Mario Mancuso, undersecretary of commerce for industry and security, told the Financial Times that banks faced a "legal risk" if they provided trade finance for, or in other ways supported, activities prohibited by US export control regulations.

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