Oberbank puts Iran Deal ‘On Hold’ over Trump

Oberbank, Austria’s seventh-largest bank, has put projects “on hold” due to the uncertainties surrounding the 2015 nuclear deal between Tehran and world powers, a report said.

In a presentation to shareholders by Oberbank CEO Franz Gasselsberger, said the financing of projects in Iran remains “on hold” because the current US policy “complicates the business massively”, a new report in Austria’s Die Presse said.

He added the prospect that secondary sanctions could “snapback” on May 12 if US President Donald Trump refuses to reissue key sanctions waivers was highlighted as something the bank’s leadership will need “take a close look at.”

Oberbank had signed an agreement to extend a EUR 1 billion line of credit to Iran in September of last year.

The finance deal was intended to support capital-intensive infrastructure and energy projects led by Austrian companies and was earmarked for projects of over two years in duration.

(Source: Tasnim, under Creative Commons licence)

One Response to Oberbank puts Iran Deal ‘On Hold’ over Trump

  1. Robert W. Neal 11th April 2018 at 6:52 pm #

    Delay payment is not good for both said cash is king. we need to move more cash money into our Government cash system. do you agree then just do it? this exchange can stop the war it to exchanges IQD currency in the USA Iraq neede Iraqi cash in Iraq the US needs more cash money in our cash system too. Would you Agree to exchange Iraq Currency in the USA? so that Iraq would have cash money on hand of Iraq Currency. So what do you say email me [email protected] let me know your toughs on this exchange? dose more cash money sounds good to you let us know
    Thank You

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