The United States on Monday warned foreign financial institutions that conducting business with Iran or its banking sector could result in sanctions. The US Treasury issued an alert stating that foreign financial institutions continuing to transact with sanctioned Iranian financial institutions could be targeted at any time without advance notification and should take immediate action to terminate such activity. The warning follows the United States’ launch of a war against Iran in late February, which has plunged the Middle East into violence and caused global energy and fertilizer prices to skyrocket. Since late August, Washington has stepped up its campaign to economically isolate Tehran.
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