iPhone | iPad
Android
Huawei
The event caters to diverse interests, including medicine and emerging career paths
KT APPDOWNLOAD
UK to cut financial ties with Iranian banks
LONDON — The U.K. will cut financial ties with Iranian banks over fears about its nuclear program, Britain’s Treasury chief George Osborne said Monday.
Osborne said all UK financial institutions will cease business relationships and transactions with all Iranian banks, including the Central Bank of Iran from 3 p.m. GMT (10 a.m. EST) Monday. The ban extends to all branches and subsidiaries of Iranian banks.
Osborne said this is the first time the British government has cut an entire country’s banking sector off from the U.K.’s financial sector.
The British government acted after the International Atomic Energy Agency highlighted fresh concerns about the possible military dimensions of Iran’s nuclear program. Osborne said in a statement that Iran’s nuclear activities “pose a significant risk to the national interests of the UK and countries across the region.”
London is a major financial center and Osborne said the British government’s decision to cut links with Iranian banks will make it harder for them to use the international financial system to support Iran’s nuclear and ballistic missile program.
He added: “This measure will protect the U.K. financial sector from being unknowingly used by Iranian banks for proliferation related transactions.”
More news from
Organised by Ameeraga Tamil Sangam, the event had participants from across the UAE
The esteemed initiative delivered essential grocery food baskets to around 5,000 deserving families across 14 Bangladeshi districts
Judges for the AI awards not only recognise excellence and innovation, but also assess performance and monitor progress in artificial intelligence computing and responses
A plea moved in court stated that no one is permitted to wear the official state institution outfit
Bayer Leverkusen boss Xabi Alonso had been the favourite to succeed Klopp but has now committed himself to the German club after leading them to a first-ever Bundesliga title
Sheikh Hamdan joined the kids as they browsed through some photos that captured how they used broomsticks and helped their community
The family's furniture, household appliances as well as the books and stationery of the children were destroyed in the April 16 floods
