As U.S. Sanctions Loom, Iran Passes Anti-Terror Financing Rules

Iran’s parliament approved a bill on Sunday to bring the country’s banks in line with global standards on anti-terrorism financing and reduce their exposure as the Islamic Republic enters another new era of tough U.S. sanctions.

The legislation, which includes reforms of Iran’s anti-money laundering laws, has been the focus of a tug of war between Iran’s governing moderates and their hardline conservative opponents, who say it represents a capitulation to Western dictates and risks Iran’s support for Lebanon’s Hezbollah, considered a terrorist group by the U.S.