September 3, 2016
An Iranian newspaper says two leading banks have refused to work with companies affiliated with the Revolutionary Guard. The hard-line Kayhan daily on Saturday reported that private Bank Mellat refused to transfer foreign currency last month for the Guard-affiliated Khatam al-Anbia, the largest contractor of government construction projects in Iran. It says state-run Bank Sepah refused to issue a letter of guarantee for a firm affiliated to Khatam al-Anbia.
Both banks reportedly cited international sanctions on the companies, without elaborating. The banks could not be reached for comment.