BREAKING NEWS

US says it's not deterring foreign banks in Iran

By REUTERS

MARCH 23, 2016 14:42

DUBAI - The United States is not standing in the way of foreign banks doing business with Iran, a senior US official said on Wednesday, but his comments appeared unlikely to satisfy frustrated businessmen and Iranian officials.

Most international sanctions against Iran's economy were lifted in January after Tehran implemented a deal with world powers to curb its nuclear program. But Washington kept some sanctions that were originally imposed over missile proliferation and alleged support of terrorism.

The fear of being caught up in those remaining sanctions has deterred most foreign banks from restoring links with Iran, angering the Iranian government, which complains it is not getting economic benefits it was promised in the nuclear deal.

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