US threatens to cut off Swiss bank MBaer from financial system over alleged Iran, Russia, Venezuela ties

By David Lawder and Ariane Luthi WASHINGTON/ZURICH, Feb 26 (Reuters) - The U.S. Treasury handed Swiss private bank MBaer Merchant Bank AG a potentially crippling blow on Thursday by threatening to sever its access to the U.S. financial system on the grounds it had breached sanctions against Iran, Russia and Venezuela. The Treasury alleged MBaer and ‌its employees had facilitated corruption linked to Venezuelan and Russian money laundering in addition to money laundering and terrorist financing on behal ...