New York prosecutors joined with the Obama administration yesterday to shut down a Chinese-based network that allegedly supplied Iran's nuclear and missile programmes with the unwitting aid of some of Wall Street's biggest banks.
The move comes as the US seeks to slow down Tehran's progress towards nuclear weapons capability and Barack Obama, US president, tries to win time for possible negotiations with Iran. It is also likely to prove a test of the administration's relationship with Beijing, which to date has been unenthusiastic about sanctions on Tehran.
Robert Morgenthau, Manhattan district attorney, unsealed an 118-count indictment, accusing Li Fang Wei, a Chinese national, of setting up front companies to disguise the illegal sales.
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