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U-turn transaction

U-turn transaction
 n.— «Iranian banks and other institutions could previously send transactions through US banks as long as they were initiated by a non-Iranian or American bank outside the US and ended in a non- Iranian or American bank outside the US. That practice, known as “U-Turn” transactions, has been banned in attempt to further isolate Iran’s financial sector.» —“US tightens Iran’s access to international finance” Monsters & Critics Nov. 6, 2008. (source: Double-Tongued Dictionary)

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