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Belarus Suspends License of Lender Controlled by Iran’s Tejarat

Belarus’s financial regulator suspended the license of ZAO Trade Capital Bank, controlled by Iran’s third-largest lender, Bank Tejarat, for one year.

“The decision was made as a result of Trade Capital Bank failing to comply with the requirement to fix its violations of Belarusian law as well as in order to protect interests of the bank’s creditors,” the central bank said today in an e-mailed statement. Trade Capital didn’t return a call for comment.

The U.S. Treasury Department in January designated Trade Capital as providing financial services to the Export Development Bank of Iran amid sanctions against the Persian Gulf nation.

To contact the reporter on this story: Aliaksandr Kudrytski in Minsk, Belarus at akudrytski@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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