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October 16, 2008 

Australia Imposes Financial Sanctions on Iranian Entities

Australia's central bank, the Reserve Bank of Australia, has imposed financial sanctions against several Iranian banks, entities and persons who have contributed to Iran's proliferation activities. The sanctions were imposed under Australia's Banking (Foreign Exchange) Regulations 1959.

Most of the sanctioned entities, such as Iranian state-owned banks Bank Melli and Bank Saderat, are already included on the U.S. Specially Designated Nationals List.

As a result of these designations, any Australian transactions involving the transfer of funds or payments to, by the order of, or on behalf of any of the named entities are prohibited without prior approval from the Reserve Bank.

The complete list of sanctioned entities can be found here.

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