WASHINGTON-The US on Wednesday imposed sanctions against the Export Development Bank of Iran for its alleged involvement in the country's weapons programme. The US Treasury Department alleged that the bank provided financial services to Iran's Ministry of Defence and Armed Forces Logistics, which controls the country's ballistic missile research, development and production activities. The sanctions mean that any bank accounts or other financial assets belonging to the Export Development Bank of Iran found in the US are frozen and US citizens are forbidden from doing business with the bank. The US and its Western allies have accused Iran of developing nuclear weapons, but Iran insists that its nuclear programme is only for peaceful purposes.