Woori, IBK Halt Settlement Services for Iran Trade

SEOUL, May 7 (Korea Bizwire) — Two South Korean banks have stopped offering settlement services for trade with Iran in line with U.S. economic sanctions on Tehran, industry sources said Tuesday. Last week, Woori Bank and the state-run Industrial Bank of Korea (IBK) suspended won-denominated accounts held by the Central Bank of Iran (CBI) for [...]