Commerzbank pares ties with Iran |
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Wed, 10 Jan 2007 12:54
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FRANKFURT (AFX) - Commerzbank, the second-biggest bank in Germany, is to join other European banks in curtailing its activities with Iran, a spokesman said on Wednesday, as the United States seeks to isolate Teheran economically.Commerzbank will stop handling dollar transactions for Iran from its New York branch by the end of this month, the spokesman said, confirming a corresponding report in the Wall Street Journal Europe today.He added that the German bank would continue to handle euro transactions for Iranian clients.A number of European banks, such as Credit Suisse and UBS, have already taken similar decisions, paring back or ceasing altogether their operations with Iran.The US says Iran's state-controlled banks support terrorism and Washington is also seeking to financially quarantine Iran because of Teheran's vows to press ahead with its nuclear programme in defiance of international will.newsdesk@afxnews.comafp/ambCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Iran says still prepared to reduce cooperation with UN's IAEA 