The Obama administration imposed sanctions on Iran's third largest bank Monday. “Today's sanction against Bank Tejarat will deepen Iran's financial isolation, make its access to hard currency even more tenuous, and further impair Iran's ability to finance its illicit nuclear program,” said David Cohen, Treasury undersecretary for terror finance. Bank Tejarat has nearly 2,000 branches in Iran as well as branches in France and Tajikistan. According to the United States, the bank acts as a clearinghouse for Iran's oil revenue. Now, it will no longer be able to access the U.S. financial system. With Monday's actions, 23 Iranian-linked firms have now been sanctioned by the United States.
