Iran Nuclear News World Bank delays some Iran aid due to US...

World Bank delays some Iran aid due to US sanctions

-

AFP: The World Bank has suspended 5.4 million dollars’ worth of aid scheduled for projects in Iran because of US financial sanctions against the Islamic republic, a senior bank official said Wednesday. WASHINGTON (AFP) — The World Bank has suspended 5.4 million dollars’ worth of aid scheduled for projects in Iran because of US financial sanctions against the Islamic republic, a senior bank official said Wednesday.

“The disbursements to these projects are delayed until the World Bank finds alternative financial institutions to handle the transactions,” said the official, confirming a recent report in The New York Times. He spoke on condition of anonymity.

The payments, for four of nine World Bank projects in Iran, were to have been made by Bank Melli, he added.

The US government on October 25 slapped sanctions on three of Iran’s largest state-owned banks, cranking up pressure on Tehran over its alleged nuclear weapons drive and terrorist financing.

The sanctions targeted Bank Melli, Iran’s largest bank, and Bank Mellat, for their alleged support of Iran’s nuclear program.

A third bank, Bank Saderat, was designated “a terrorist financier.” The US had imposed other sanctions against the bank in September 2006.

The sanctions forbid any financial transactions between a US citizen or private organization with the targets, and froze all the targets’ assets under US jurisdiction.

The suspension of World Bank payments affects four projects in Iran: emergency aid after a deadly earthquake in Bam, in the south of the country; water treatment, environmental management; and urban renewal.

The World Bank has awarded nine nine loans to Iran, totaling 770 million dollars, the senior Bank official said.

Latest news

Iranian Infected with Hep A after Drinking Water Mixed with Sewage

Many Iranians in Khuzestan province have contracted Hepatitis A after drinking water contaminated with sewage due to recent floods...

Why Iran Does Not Purchase Covid-19 Vaccines

In Iran, media outlets controlled by the Supreme Leader Ali Khamenei try to justify the government’s refusal to purchase...

The Ayatollahs Devastate Iran’s Car Manufacturing Industry

Upon releasing their latest model, called ‘Tara’, in late December, Iran’s largest car manufacturing company, Iran Khodro (IKCO), came...

Iran’s Prisons: A Coronavirus Vector in 2020

Iran’s unsanitary and overcrowded prisons were a vector for infections long before the Covid-19 outbreak, so everybody could plainly...

Why Iranians Don’t Trust the Ayatollahs?

While the Iranian government has been surrounded by enormous crises and dilemmas inside the country and abroad, officials inevitably...

U.S. Designates Two Pillars of Khamenei’s Economic Empire

On January 13, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated two key entities...

Must read

Kurdish official says Iran shells Kurds in Iraq

Reuters: A senior Iraqi-Kurdish official accused Iranian forces on...

Iran nuclear envoy in Spain talks before key Brussels meeting

AFP: Iran's top nuclear negotiator Ali Larijani was to...

You might also likeRELATED
Recommended to you