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The United States said on August 25 that it would cut off entities that help Iran launder money from the dollar-based financial system, adding, "No one should test our resolve," according to reports.
The United States said on August 25 that it would cut off entities that help Iran launder money from the dollar-based financial system, adding, "No one should test our resolve," according to reports.
Exclusion from dollar clearing is one of the most powerful tools in the US sanctions toolkit, because so much of world trade and finance relies on the dollar.
The report did not name specific banks, companies or countries.
The practical impact depends on which institutions are designated. Announcements from the Treasury Department's Office of Foreign Assets Control will show who is targeted and how broad the measures are.
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