Banco Santander (NYSE:STD) has closed the bank account of the Islamic Republic of Iran’s embassy in Madrid.
Banco Santander (NYSE:STD) Closes Iranian Bank Account
The Spanish banking giant had notified Iranian embassy officials to withdraw the embassy’s money from the bank within one month.
They did, and the embassy’s account was blocked after the withdrawal.
This account freezing has created many problems for the Iranians, and other foreign nationals.
Bank officials said that these actions are due to the sanctions imposed against Iran and pressure from the United States.
Banco Santander (NYSE:STD) shares were at 11.51 at the end of the last day’s trading. There’s been a 6.0% change in the stock price over the past 3 months.