Britain’s Chancellor of the Exchequer George Osborne said today that all UK financial institutions cease business relationships and transactions with all Iranian banks, including the Central Bank of Iran effective 3 p.m. GMT (10 a.m. EST) Monday. The ban extends to all branches and subsidiaries of Iranian banks, AP reported.
This is the first time the British government has cut an entire country's banking sector off from the UK's financial sector. Britain said it took the action in response to IAEA’s report on possible military dimensions of Iran's nuclear program.
“Iran's nuclear activities pose a significant risk to the national interests of the UK and countries across the region,” Osborne said. “This measure will protect the U.K. financial sector from being unknowingly used by Iranian banks for proliferation related transactions,” he added. [AP, 21 November].
Henry Smith, Middle East analyst at the Control Risks consultancy in London, said the British move may not significantly affect Iran's major oil customers.
"It essentially delegitimizes the country's financial system but in reality it may not make that much practical difference. The Chinese, Indians and others will continue to engage, while many Western multinationals have already pulled out," he said.
Good for them..So now since there's no banking relations between the two countries, can they stop talking about Iran's nuclear program for good?
The estern politiker will never understand
The West (EU/US) are a looser of the globalization process
Iran is a winner of globalization.
make as you want sanctions, nobody cares
I think the western nations are trying to show that they went as far as they could with sanctions before they then attack Iran.
Those nations that don't help with sanctions against Iran will be blamed for the coming war.
Things are getting tense now, I wish Iran would have accepted the hotline from the American Army, just in case of possible accidents or mistakes, for example, if one side mistakenly shoots down an airliner or ship because it thinks its being attacked, I think we will quickly have a full war, a very heavy price for Iran to pay.
I hope Hizbullah/Iran/Syria does not accidentaly shoot a missle into Israel, I think the Israelis have their finger on the trigger, any excuse and Iran will lose thousands of fighters very quickly and the western powers and nato will be 100% behind Israel.
Sorry about my english and bad spelling, I am still learning english now.
anno November 21, 2011 4:16 PM
you forget or donot know the past ?
during war in Juli 2006 , has hisbullah fired a lot of missiles toward israel, the entire of north israel was evacuated.
even today hamas fireing everyday SOME small calibre missiles toward israel from Gaza.
Israel is not a frmidable enemy for iran, a small conutry can be erased even without nuke
"Israel is not a frmidable enemy for Iran,a small country can be erased even without a nuke."
Listen here boy Israel has over 200 nukes and could easily level all major cities in Iran into ashes.
So run along and play with your toy solders.
Anon 5:21 PM
Listen here buffoon. It only takes a couple of nukes to wipe Israel off the map. So run along and play with your barbie dolls.
UK/US and Israel have no transactions with Iran so they might as well boycott it
They are getting ready for a war and so should Iran!
--- the entire of north israel was evacuated. ---
and what happened to north Israel? was it badly damaged?
how did itlook afterward? did it look to have been as damaged as Beirut?
Anon 7:22 PM
If the UK/US and Israel are getting ready for war then they will regret it because war with Iran will drive oil prices through the roof. You might as well declare war on the world economy.
Anon 7:05 PM
A couple of nukes boy.So your saying that Iran has a couple of nukes dopey?
I tell you what let Iran try to launch their supposed nuclear bomb and Israel launches their real 200 nuclear bombs and then we will see who plays with Barbie dolls ken included.
Anon 4:27 PM
Listen imbecile. I didn't say Iran has a couple of nukes, I only said it takes a couple of nukes to wipe Israel off the map and given the fact that Israel is the tiniest country geographically in the Middle East, even primitive nukes are sufficient to do the job.
Anon 8:17 PM
You seem to like using words like buffoon and imbecile a lot. Is it because you suffer from an inferiority complex or you're simply impolite due to incorrect education both in school and at home.
Never the less if you're impalpable to grasp the facts that tiny little Israel carry's a huge stick against Iran's tooth pick and that Israel or the US can easily scatter Iran's army to the four corners of the globe then you must be reading to many Hezbollah comic books or watching to many nursery stories on Press TV.
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