Iran Drops bid to transfer Millions out of Germany

By John Lee.

Iran has reportedly dropped its request to transfer 300 million euros ($347 million) in cash out of Germany.

The cash is understood to be held in accounts at the Iranian-owned trade bank Europäisch-Iranische Handelsbank (EIH).

According to AP, the US had been pressuring German authorities to reject the request due to concerns about potential terrorist financing and money-laundering.

(Source: AP)

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