Matches in DBpedia 2016-04 for { ?s ?p "A U-turn transaction, generally speaking, is a banned financial transaction done by a bank in country A (example: USA) for the benefit of a bank in country B (example: Iran) through offshore banks (example: Switzerland). This loophole is used by Iranian banks to avoid U.S. sanctions for their US dollar based transactions. The phrase \"U-turn\" applies because the funds are transferred to a U.S. bank and instantly turned back as dollars to a European bank."@en }
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- U-turn_(banking) abstract "A U-turn transaction, generally speaking, is a banned financial transaction done by a bank in country A (example: USA) for the benefit of a bank in country B (example: Iran) through offshore banks (example: Switzerland). This loophole is used by Iranian banks to avoid U.S. sanctions for their US dollar based transactions. The phrase \"U-turn\" applies because the funds are transferred to a U.S. bank and instantly turned back as dollars to a European bank.".
- U-turn_(banking) comment "A U-turn transaction, generally speaking, is a banned financial transaction done by a bank in country A (example: USA) for the benefit of a bank in country B (example: Iran) through offshore banks (example: Switzerland). This loophole is used by Iranian banks to avoid U.S. sanctions for their US dollar based transactions. The phrase \"U-turn\" applies because the funds are transferred to a U.S. bank and instantly turned back as dollars to a European bank.".