Will European Banks Ditch US Sanctions Altogether and Deal With Iran Directly?

Published December 3rd, 2018 - 07:12 GMT
A number of foreign banks which used to write letters to Iran a few days ago saying it would be impossible for them to continue cooperation with Iran due to sanctions are now saying that they want to resume cooperation with Tehran in the face of US sanctions. (Shutterstock)
A number of foreign banks which used to write letters to Iran a few days ago saying it would be impossible for them to continue cooperation with Iran due to sanctions are now saying that they want to resume cooperation with Tehran in the face of US sanctions. (Shutterstock)
A senior Iranian banker said several European banks have voiced strong willingness to cooperate with Iran irrespective of the US sanctions.
 

"A number of foreign banks which used to write letters to Iran a few days ago saying it would be impossible for them to continue cooperation with Iran due to sanctions are now saying that they want to resume cooperation with Tehran in the face of US sanctions," Managing Director of Saman Bank Ahmad Taheri Behbahani said on Sunday.

He noted that the country has held several meetings with a major European bank during which the bank voiced readiness to resume cooperation with Iran in the face of US sanctions.

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Taheri maintained that Iran had no problem with supplying pharmaceuticals and basic goods during the previous era of sanctions before the signing of the JCPOA in 2015, and the country would be continuing its activities in the banking and financial sectors, as well as the supply of pharmaceuticals, basic goods and medical equipment under the current sanctions.

The US unilaterally withdrew from the JCPOA in May and re-imposed sanctions against Iran which had been lifted under the 2015 deal. Washington’s second batch of sanctions came into force on Nov. 5, targeting Iran’s banking and oil sectors, which in effect posed restrictions on other countries for doing business with Iran.


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