The UK Treasury has announced that new license applications designating Iranian banks in the UK will be rejected by default, and the existing general license allowing Iranian banks to conduct limited business will not be renewed after it expires next month. The affected banks include Sapahe Bank, National Bank of Iran UK Branch, Sadrat Bank, Persian International Bank, and Commercial Bank. US Treasury Secretary Besson launches economic pressure campaign against Iran, restricting Iran's connection with the global trading system. The UK stated that this measure is to tighten existing sanctions.
