Tag Archives | bank transfers

US may Easy Dollar Restrictions on Iran

By John Lee. The United States may soon relax its restrictions on the use of dollars in transactions with Iran, according to a report from The Associated Press. Officials told the news agency that the Treasury Department is considering issuing a general license that would permit offshore financial institutions to access dollars for foreign currency […]

Pakistan to Trade with Iran in Euros, not Dollars

By John Lee. IRNA reports that Pakistani businessmen will open letters of credit (LCs) for imports from Iran in euros instead of dollars, as some US sanctions are still in place that could obstruct payments to Tehran. The State Bank of Pakistan (SBP) said it was not possible at this stage to open LCs in […]

Banking Sanctions take Center Stage

By Mohammad Ali Shabani, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Banking Sanctions take Center Stage as Iranian Rhetoric Toughens All is not well in post-sanctions Iran. In his first Nowruz message since the signing and implementation of the Joint Comprehensive Plan of Action […]

US “Persuading Firms to Trade with Iran”

By John Lee. Washington has emphasized that it has no intention of obstructing business with Iran, and has started a campaign to persuade wary firms that doing business with Iran is now all right. Reuters reports that Chris Backemeyer, Principal Deputy Coordinator for Sanctions Policy at the US Department of State, said on Wednesday that […]

Will Iran be able to win over UK on Banking Sanctions?

By Arash Karami, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Will Iran be able to win over Britain when it comes to banking sanctions? Two months after the Jan. 16 Implementation Day of the Joint Comprehensive Plan of Action (JCPOA), the lifting of nuclear-related […]

26 Iranian Banks Now Connected to SWIFT

Four more of Iran’s banks have been reconnected to SWIFT, the global provider of secure financial messaging services. They are all the foreign branches of key Iranian banks and include the Yerevan branch of Bank Mellat, the Dushanbe branch of Tejarat Bank and the branches of Bank Melli Iran in Baku and Baghdad. Iranian media […]

Greece to buy first Loads of Iranian Oil via Total

Hellenic Petroleum (ELPE) will not be able to purchase its first delivery of Iranian crude oil directly from Tehran, according to media reports. The Greek refiner signed a deal with the National Iranian Oil Company (NIOC) in January, but uncertainty in the regulations regarding the lifting of sanctions has led to problems in carrying out […]

Zarif Confers on Banking in Australia

By John Lee. Iranian Foreign Minister Mohammad Javad Zarif and Australian Trade Minister Steven Ciobo discussed solutions to resolve the banking problems between the two countries. Australia recently lifted its sanctions on Iran. The ministers also consulted on developing ties in fields such as water resource management, modern agricultural technologies, and air travel. (Source: Ministry […]

UK Seeks to Ease Banking Problems with Iran

By John Lee. The United Kingdom is working with its European partners to help ease the impact of banking restrictions on trade with Iran. Despite the removal of nuclear-related sanctions, U.S. restrictions, including a ban on dollar trading and a freeze on U.S. banks engaging in trade, remain in place. UK Business Secretary Sajid Javid […]

Iranian Banks can Access SWIFT Int’l Payment System

The Central Bank of Iran (CBI) announced on Tuesday that Iranian banks and their foreign branches “received the opportunity to reconnect to SWIFT international payment system”. SWIFT said in a statement: “Those banks that are delisted by the Implementing Regulation will now automatically be able to reconnect to SWIFT, following the completion of our normal […]