The United States on Thursday slapped fresh sanctions on Iran's financial sector, targeting 18 Iranian banks in an effort to further shut Iran out of the global banking system as Washington ramps up pressure on Tehran weeks ahead of the U.S. election.

However, the U.S. Treasury Department said in a statement that the prohibitions did not apply to transactions for the provision of agricultural commodities, food, medicine or medical devices to Iran.

Washington's move affected what the Treasury said were 18 major Iranian banks, most of which were targeted under U.S. Executive Order 13902, which allows the Treasury Department to target entire sectors of the Iranian economy.

It named them as Amin Investment Bank, Bank Keshavarzi Iran, Bank Maskan, Bank Refah Kargaran, Bank-e Shahr, Eghtesad Novin Bank, Gharzolhasaneh Resalat Bank, Hekmat Iranian Bank, Iran Zamin Bank, Karafarin Bank, Khavarmianeh Bank, Mehr Iran Credit Union Bank, Pasargad Bank, Saman Bank, Sarmayeh Bank, Tosee Taavon Bank, Tourism Bank and Islamic Regional Cooperation Bank.

 

Source: Reuters