Central Bank Moves Assets From Europe
August 30 2010
The central bank in Iran has shifted its assets out of European banks in an attempt to defend itself against international sanctions, the New York Times reports.
The governor of Iran's central bank announced the move on Saturday, saying it had been envisioned "six months in advance" of the latest sanctions.
Bank Saderat, one of the institutions targeted by U.S. sanctions, said earlier this month that European assets worth about $432 million had been frozen.
The bank...
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