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Iranian bank banned in EU

  • Iran: Sunday, May 18 - 2008 at 07:42

Iran's Bank Melli is set to be banned from operating in the EU. The country's biggest commercial bank, it operates from branches in the UK, France and Germany, despite US calls since last summer not to deal with the bank. European member states refused to act unilaterally, however the EU is now likely to act following a UN Security Council resolution.

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