The U.S. Is Targeting Iran's Money Supply

U.S. Attacks Banks' Iranian Ties -- Washington Post

The United States on Wednesday escalated a crackdown on illicit banking relations with Iran, winning a half-billion-dollar fine against the biggest Swiss bank as other European financial institutions remain under investigation.

The agreement by Credit Suisse Group to pay $536 million to settle a Justice Department investigation comes on the heels of forfeitures of $350 million by Lloyds TSB Bank earlier this year and $80 million by ABN Amro Holding in 2005 for similar violations of U.S. sanctions. Another British bank, Barclays, has acknowledged it is cooperating with the probe and faces a substantial fine; at least another half-dozen banks are believed to be under investigation.

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My Comment: This is a temporary measure. Banks in Venezuela and elsewhere are more than happy to launder Iran's money .... unless more forceful sanctions must be applied, this will only be a minor convenience for the mullahs in Tehran.