The U.S. Treasury is moving to cut a small Swiss bank off from the U.S. financial system over alleged illicit ties to Iran and Russia. Treasury’s Financial Crimes Enforcement Network proposed a rule on Thursday that blocks U.S. banks from doing business with MBaer Merchant Bank. Also on Thursday, U.S. and Iranian officials are holding indirect talks in Geneva on Iran’s nuclear negotiations. Treasury says MBaer funnels more than $100 million through the U.S. system for Iranian and Russian criminals. Treasury accuses the bank of money laundering and terrorist financing. Treasury Secretary Scott Bessent warns banks to stay clear.
WASHINGTON (AP) — The U.S. is moving to sever a small Swiss bank from access to the U.S. financial system for its alleged support for Iranian and Russian actors, as U.S. and Iranian officials hold indirect talks Thursday in Geneva over Tehran’s nucle… [265 chars]
Source: The Atlanta Journal-Constitution | Published: 2026-02-26T15:43:12Z
Credit: The Atlanta Journal-Constitution
