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US to Temporarily Allow Financial Transactions to Iran

Written: 2012-08-22 14:11:25Updated: 2012-08-22 15:53:15

US to Temporarily Allow Financial Transactions to Iran

The U.S. government will temporarily ease restrictions on financial transactions with Iran to help earthquake victims there.

The Department of the Treasury said nongovernmental organizations can send up to 300-thousand dollars in relief funds for Iranian earthquake victims for 45 days until October 15th.

However, the department noted that the humanitarian organizations must obtain government permission when they send funds exceeding 300-thousand dollars.

The U.S. government has allowed the delivery of food and medicine to Iran since a massive earthquake jolted the northwestern part of the country on August eleventh.

But it came under fire for keeping its financial transaction in place as part of its greater sanctions against Iran.

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