Bank of Ireland to Retain Banking Restrictions on Iran

By John Lee.

The Irish Independent reports that the Bank of Ireland will not be removing its restrictions on Iranian-related banking transactions despite the recent lifting of sanctions.

In a statement, the bank said it adheres to EU, HM Treasury, United Nations and US Department of the Treasury’s Office of Foreign Assets Control Financial Sanctions requirements, adding that “ongoing complications and risks persist, including the continued application of US primary sanctions“.

The nationalised Allied Irish Banks (AIB) declined to comment on its plans.

(Source: Irish Independent)

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