UK to cut ties with Iranian banks
Britain is cutting links with Iranian banks because of 'evidence' they are involved in the development of a nuclear weapons program, Finance Minister George Osborne says.
'The UK government has just announced new financial sanctions against Iran. We are ceasing all contact between the UK financial system and the Iranian banking system,' Osborne said on Monday.
The Treasury said it was the first time Britain had cut off an entire country's banking sector from the British financial sector.
The move follows the latest reports from the UN nuclear watchdog which last week expressed 'deep' concern over Iran's nuclear ambitions.
And this move is now coordinated with Canada and the USA.