Banco Santander, La Caixa Close Iran Accounts, Press TV Reports

La Caixa and Banco Santander SA closed the accounts of Iran’s embassy in Madrid to comply with financial sanctions against the country over its nuclear program, Press TV reported, without citing anyone.

Banco Santander earlier requested embassy officials withdraw their funds within a month, the Iranian state-run news channel said. The bank closed the account after the money was pulled out, Press TV said.

Embassy officials subsequently opened an account with La Caixa, which halted all banking transactions last week and shut the account yesterday, the channel said late yesterday.

Officials from Iran’s Economic Affairs and Finance Ministry and the country’s Chamber of Commerce arrived in Madrid yesterday to meet with Spanish officials, Press TV said.

To contact the reporter on this story: Ladane Nasseri in Tehran at lnasseri@bloomberg.net.

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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