The U.S. Treasury Department on Tuesday named Iran's state-owned Bank Sepah as a proliferator of weapons of mass destruction, and banned all transactions between it and U.S. businesses. "Bank Sepah is the financial linchpin of Iran's missile procurement network and has actively assisted Iran's pursuit of missiles capable of carrying weapons of mass destruction," said Stuart Levey, Treasury's Under Secretary for Terrorism and Financial Intelligence. In addition to prohibiting transactions with Bank Sepah, a major commercial Iranian bank, Treasury said any assets that it may have under U.S. jurisdiction are frozen.
