Fear of US Punishment Prevents Foreign Banks to Establish Ties with Iran: Envoy

TEHRAN (Tasnim) – Iranian Ambassador to Germany Ali Majedi said fear of facing US punishment has prevented growth in banking relations between the Islamic Republic and foreign countries after the recent implementation of Tehran’s nuclear deal with six world powers.

Fear of US Punishment Prevents Foreign Banks to Establish Ties with Iran: Envoy

Addressing a conference on Iran-Europe banking and trade relations in Tehran on Saturday, Majedi highlighted the reasons behind banking problems in economic transactions between Iran and European nations.

When Tehran pursued settling banking problems with major banks in Europe, the issue of the US sanctions was raised, the ambassador said, adding that he has held talks with German officials and resolved the banking problems in the Western European country.

“The failure to establish relations between Iran and foreign (banks) has its roots in the fear of facing US punishments,” the diplomat noted.

Majedi had told reporters last month that a US Treasury delegation would pay an official visit to Germany soon to help resolve the remaining problems in banking ties between Tehran and Berlin after the removal of anti-Iran sanctions.

“We are witnessing the German side’s seriousness to resolve these problems,” the diplomat said at the time.

The remarks came against the backdrop of a new wave of interest in ties with Iran after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 reached a conclusion over the text of a comprehensive 159-page deal on Tehran's nuclear program and started implementing it on January 16.

The comprehensive nuclear agreement terminated all nuclear-related sanctions imposed on Iran after coming into force.

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