Intimidated by US, Major Banks Avoid Working with Iran

A member of Iran’s Money and Credit Council attributed major global banks’ reluctance to build banking links with Iran to the US government’s intimidating policies and obstructionism.

Conditions are not still set for Iranian banks to make connection with the world’s top banks, Bahman Abdollahi, member of the highest policy-making body in the Central Bank of Iran (CBI), said on Saturday.

The predictions of Iran’s economic and banking relations with the world in the post-JCPOA era have not come true, he deplored, blaming the Western parties, the US in particular, for this due to their lack of commitment to the 2015 nuclear deal between Iran and world powers.

The comments come against the backdrop of growing concerns that the Joint Comprehensive Plan of Action (JCPOA), the lasting nuclear agreement between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany), has not led to any major breakthroughs in Iran’s financial transactions with foreign banks and companies.

In an appearance at the Council on Foreign Relations in the US in April 2016, Central Bank of Iran Chief Valiollah Seif said “almost nothing” has happened for facilitating Iran’s financial transactions, criticizing Washington for failing to fulfill its commitments under the JCPOA.

(Source: Tasnim, under Creative Commons licence)

No comments yet.

Leave a Reply