3 Japan banks to refrain from deals with Iran in line with U.S. sanctions

TOKYO — The Bank of Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp will refrain from doing business with Iran's state-run Bank Saderat Iran in line with U.S. financial sanctions, officials at the three Japanese banks said Saturday.

The United States has imposed a ban on U.S. bank transactions with Bank Saderat Iran, insisting that Iran is channeling funds to Hezbollah in Lebanon through the export bank."