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British banks fight US over Iran embargo

Posted by alanmirs on July 23, 2007

British banks fight US over Iran embargo

Ewen MacAskill in Washington
Thursday July 19, 2007
Guardian Unlimited

A branch of the bank HSBC in London.
HSBC claims now to only have a small operation in Iran. Photograph: Tim Ockenden/PA.

A mounting US crackdown on foreign companies and banks doing business with Iran is provoking serious opposition in the UK and Europe, where diplomats are warning that the action could lead to a new trade war 

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