U.S. asks major Japanese banks to cooperate in sanctions on Iran
Thursday, July 15, 2021 12:18 AM

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TOKYO, Jul. 15, 2010 (Kyodo News International) -- A senior U.S. Treasury official has visited three major Japanese banking groups to make a direct request for their cooperation in U.S. financial sanctions on Iran over its suspected nuclear weapons development, banking industry sources said Thursday.

David Cohen, assistant secretary for terrorist financing, made the request to Mitsubishi UFJ Financial Group (NYSE:MTU) Inc., Mizuho Financial Group Inc. (NYSE:MFG) and Sumitomo Mitsui Financial (OOTC:SMFJY) Group Inc. on Wednesday, they said.

Cohen asked them to terminate transactions with Iranian banks and industrial companies, they said.

But a source at one of these banking groups said any private financial institution cannot make a decision on the matter subject to talks between the Japanese and U.S. governments as Japan's Finance Ministry has been cautious of cooperating in the U.S. sanctions.

The United States has enacted the Iranian sanctions act that requires foreign financial institutions to be expelled from U.S. financial markets if they do business with the Iranian Revolutionary Guard Corps or individuals who are suspected of being involved in Iran's nuclear development.

 

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