Trump targets Iran banks, seeking crippling blow before US vote

Washington (AFP) – President Donald Trump’s administration imposed sweeping sanctions Thursday on Iran’s banking sector, taking a major new step to cripple the arch-rival’s already struggling economy weeks ahead of US elections.The Treasury Department said it was designating 18 major Iranian banks, a move that could largely cut off the nation of 80 million people from the world’s financial system just as it tries to cope with the Middle East’s worst Covid-19 outbreak.The United States defied concerns from European allies that the sanctions could cause needless suffering and insisted it was mak…

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