FRANKFURT (Reuters) - The European Central Bank defended its payments system on Thursday, after a newspaper reported that the U.S. Congress is preparing new Iran sanctions to target the ECB's system for settling cross-border payments.
The proposed bill is aimed at pressing the ECB to do more to prevent Iranian firms and banks from using the Target2 payments system to conduct transactions involving euros, the Financial Times reported.
Already a subscriber? Log in
The Star Festive Promo: Get 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
