Banks, Iran Sanctions | featured news

Standard Chartered expects to pay $330 million to settle a case with U.S. regulators who accused the Asia-focused bank of failing to comply with sanctions against Iran,further denting profit growth this year.

The body that handles global banking transactions says it will cut Iran's banks out of the system on Saturday to enforce EU sanctions.

The Senate on Thursday approved tough new unilateral sanctions aimed at squeezing Iran's energy and banking sectors, which could also hurt companies from other countries doing business with Tehran.