Bush Admin. blacklists major Iranian bank

The Bush administration has blacklisted one of Iran's biggest banks, Bank Saderat, alleging that it is used to transfer money to terrorist organizations.

Stuart Levey, the Treasury's under-secretary for terrorism and financial intelligence said the bank had been blacklisted because "this bank, which has approximately 3,400 branch offices, is used by the government of Iran to transfer money to terrorist organisations."

According to Mr Levy, the bank had facilitated the transfer of hundreds of millions of dollars to the Lebanese militant group, Hezbollah, and what he called other terrorist organisations, every year. Via BBC

We need to stop the U.S. from putting sanctions on Iran, it will force the Iranian people to depend on the Iranian government, making things worse of course. Not to mention the fact that if economic sanctions are imposed on Iran, it may cause 10,000 Germans to lose their jobs.