New US sanctions hamper Iran bid to recover $1.75B
Iran's effort to recover some $1.75 billion frozen in a US bank faces a new obstacle due to a law President Barack Obama signed last month, potentially further squeezing Tehran's economy and exacerbating tensions between the two countries.
When Obama signed the National Defense Authorization Act on December 31, a provision required him to freeze any money held by or for Iranian financial institutions in the United States and to prohibit any future transactions. (Reuters)
