US seeks to cut off Swiss bank from financial system

 The United States Treasury Department proposed on Thursday to sever MBaer Merchant Bank AG's access to the US financial system over its alleged ties with Russia and Iran.

If adopted, the measure would prohibit US financial institutions from doing business with the Zurich-based bank. "MBaer has funneled over a hundred million dollars through the U.S. financial system on behalf of illicit actors tied to Iran and Russia,” said Secretary of the Treasury Scott Bessent. “Banks should be on notice that the US Treasury will aggressively protect the integrity of the US financial system using the full force of our authorities."

MBaer was also accused by Washington of facilitating money-laundering activities on behalf of the Islamic Revolutionary Guard Corps (IRGC) and one of its five branches, the Quds Force.

https://breakingthenews.net/Article/US-seeks-to-cut-off-Swiss-bank-from-financial-system/65755697