Iran Used Santander, Lloyds to Evade Sanctions, FT Says
- Both banks say they can’t comment on individual customers
- US, UK recently began airstrikes against Iran-backed Houthis
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Iran evaded sanctions and was able to covertly move money around the world using accounts at two of the UK’s biggest banks, Lloyds Banking Group Plc and Santander UK, the Financial Times reported.
The lenders provided accounts to front companies secretly owned by a sanctioned Iranian petrochemicals company, the newspaper reported on Sunday, citing documents it viewed. The sanctions-evasion plan was backed by Iran’s intelligence services, the report said.