Germany blocks 400 million dollars to Iran
Germany’s central bank blocked a $400 million cash delivery
to Iran, marking an added victory for the US in line with their heightened
sanctions on the country, which were put into full force early Tuesday.
In the midst of Iran facing a depreciating currency and
severe drop in their economic situation, the country is in need of hard
currency in cash ahead of more sanctions to be imposed by the US in November.
The $400 million is being held by Iranian-owned
European-Iranian trade bank (EIH), which is allowed to operate in Hamburg.
The EIH was previously sanctioned by Europe and the US for
helping push Iran’s nuclear program.
According to Fox News, the US ambassador to Berlin was the
one who lead the campaign to persuade the German government to stop the money
transfer.
“We are grateful to our German partners for recognizing the
need to act,” he told the news channel
