Sanctions hurting Iran's access to capital: US report

February 07, 2013 23:16

Western sanctions on Iran contributed to a drop in Iran's access to global sources of capital last year, the U.S. Treasury department said in a report to Congress.

Foreign banks cut their lending exposure to Iran by the equivalent of $9.1 billion in 2012, down 53 percent, said the report, a copy of which was obtained by Reuters on Thursday. The report, which cited information from the Bank of International Settlements, said broader international sanctions against Iran and other perceived weaknesses in the investment climate in Iran also contributed to the drop.

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