AFP, May 15, 2016 – Big European banks remain reluctant to work in Iran four months after the lifting of international sanctions under a landmark nuclear deal with world powers, an Iranian official said Sunday.
“Major European banks have not yet started their interactions with Iranian banks…” deputy foreign minister Abbas Araghchi told state broadcaster IRIB.
When the agreement came into effect in January, Washington lifted sanctions directly related to Tehran’s nuclear program but it maintained others imposed over its ballistic missile program and its alleged support of “terror” groups.
Several European banks have received massive fines in the United States in the past after being found guilty of violating US sanctions against Iran and all remain wary of incurring similar punishment.
