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Bank of Tokyo-MUFJ freezes Iran transactions

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Author Topic: Bank of Tokyo-MUFJ freezes Iran transactions  (Read 632 times)
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« on: May 16, 2012, 11:46:38 pm »

Bank of Tokyo-MUFJ freezes Iran transactions
16 May 2012, by Atsuko Fukase - Tokyo (MarketWatch)
http://www.marketwatch.com/story/bank-of-tokyo-mufj-freezes-iran-transactions-2012-05-16

Japan's Bank of Tokyo-Mitsubishi UFJ said Thursday it has frozen transactions with the Iranian government after the New York District Court ordered it to freeze accounts at the bank held by Tehran this month.

The district court earlier this month asked the bank to freeze up to $2.6 billion held in the accounts and disclose details of the accounts, the bank said.

The request by the district court stems from a 2007 ruling ordering Iran to make payments to survivors and victims' family members of the 1983 bomb attack on U.S. Marines in Lebanon, and the court's efforts to secure payment of the damages.

A spokesman at BTMU, the core banking unit of Mitsubishi UFJ Financial Group Inc. , said the bank is discussing how to deal with the issue.
 
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