Tue, 17 June
24.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

U.S. regulators suspect Deutsche Bank of ignoring sanctions against Iran

YEREVAN, August 18 /ARKA/.  U.S. regulators are investigating claims Deutsche Bank and other global banks funneled billions of dollars for Iran, Sudan and other sanctioned nations, RIA Novosti reports citing The New York Times.

The probe is still in its very early stages, law enforcement officials told the Times, adding that Deutsche Bank was not believed to have moved funds on behalf of Iranian clients through its U.S. operations after 2008.

In 2007, the bank decided that it would “not engage in new business with counterparties in countries such as Iran, Syria, Sudan and North Korea and to exit existing business to the extent legally possible,” a spokesman told the newspaper.

The investigation of Deutsche Bank is among a series of cases against global financial firms since 2009 suggesting that financial firms often transferred money for Iranian banks and companies under a loophole in U.S. policy that ended in 2008, the Times noted. -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

CBA introduces Master Documentation for Derivatives and Repurchase Transactions in Armenia

The Central Bank of Armenia (CBA), with technical assistance from the European Bank for Reconstruction and Development (EBRD) and financial support from the Japanese government, has introduced master documentation for derivatives and repurchase transactions that is governed by Armenian law.

Freedom Broker Armenia analytics: A practical tool for navigating the market

Freedom Broker Armenia is strengthening its expert support for investors through the development of its own analytical platform.

Euro to Armenian dram exchange rate fell by 3.77 points

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 13, 2025, fell by 0.25 points compared to June 12 and amounted to 383.23 drams.

Central Bank of Armenia will develop a by-law for the implementation of the law “On crypto assets”

The Central Bank of Armenia will begin work on developing a by-law after the adoption of the law "On crypto assets", said the head of the regulator Martin Galstyan, answering a question from the ARKA news agency.

LATEST NEWS

spot_imgspot_imgspot_img