| GEO World|
| Iranian bank dismisses U.S. sanctions|
| Updated at: 0310 PST, Friday, October 24, 2008|
TEHRAN: Iran's official news agency said a state-owned bank is dismissing financial sanctions imposed this week by the Bush administration.
Agency’s report on Thursday carried a statement from the Export Development Bank of Iran, which says the sanctions have no legal base.
The U.S. Treasury Department imposed sanctions on the bank on Wednesday for allegedly providing financial services in support of Iran's weapons program.
The action means any bank accounts or other financial assets belonging to the bank that are found in the U.S. are frozen.
The United States accuses Iran of bankrolling terrorism and seeking nuclear weapons charges Tehran denies.