Iran used UK bank accounts to evade Western sanctions: FT

Iran evaded Western sanctions by using accounts at two UK banks to move money around the world in an extensive sanctions evasion scheme, according to the Financial Times.

Lloyds Banking Group and Santander UK provided accounts to front companies that were secretly owned by a sanctioned and state-controlled Iranian petrochemicals company, the news outlet said, citing documents. 

The Petrochemical Commercial Company’s (PCC)…