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US Warns Banks in Mainland China, Hong Kong and Other Regions Against Conducting Business with Iran
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According to foreign media reports, the US Department of the Treasury has sent letters to financial institutions in mainland China, Hong Kong, the United Arab Emirates and Oman, warning of the risks of conducting business with Iran and threatening to impose secondary sanctions on the relevant banks. In the letter, the Department of the Treasury stated that in 2024 Iran processed at least USD9 billion through shell companies, particularly those in Hong Kong and the United Arab Emirates, via US correspondent accounts. The Department of the Treasury said in a post on social media platform X that financial institutions should be aware that it is using all available tools and authorities and is prepared to impose secondary sanctions on foreign financial institutions that continue to support Irans activities. (mn/da) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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