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Pulling the Plug

COMPLIANCE

HM Treasury on Monday, Oct. 12, issued a directive under the UK Counter Terrorism Act (CTA), stating that UK firms must immediately cease doing business with two Iranian firms: the Islamic nation's second largest lender, Bank Mellat; and the Islamic Republic of Iran Shipping Lines. The directive is an attempt to coerce Iran to stop enriching uranium and to comply with its international obligations, and is the most severe action the UK Treasury can take under the CTA, which was enacted late last

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