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The Treasury Department froze the assets of Iran's oldest bank, Bank Sepah, which has facilitated the funding of Iran's weapons-of-mass-destruction programs. The bank is now barred from American financial markets. That plunging oil prices, all the way down to $52 from nearly $80 a barrel, will do severe damage to Iran's already tenuous fiscal position...
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The bank is now barred from American financial markets. That plunging oil prices, all the way down to $52 from nearly $80 a barrel, will do severe damage to Iran's already tenuous fiscal position. As the new American security blanket protects Persian Gulf shipping lanes from any Iranian mischief, continued oil-price declines will bleed the weak Iranian economy...
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