Banking Problems Persist despite JCPOA: Iran’s Oil Minister

TEHRAN (Tasnim) – Iranian Oil Minister Bijan Namdar Zanganeh said banking problems created by anti-Tehran sanctions are “still in place” despite the enforcement of the nuclear deal between the Islamic Republic and six powers known as the Joint Comprehensive Plan of Action (JCPOA).

Banking Problems Persist despite JCPOA: Iran’s Oil Minister

“The banking problems are still in place after JCPOA,” Zanganeh told reporters on the sidelines of the 13th Iran Petrochemical Forum in Tehran on Saturday.

He further emphasized that to some extent, the problems have to do with foreign banks’ cautiousness about cooperating with Iran.

While the JCPOA, a 159-page nuclear agreement between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) came into force in January last year, some Iranian officials complain about the US failure to fully implement the accord.

Back in March 2016, Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei said Americans have yet to fulfill what they were supposed to do as per the nuclear deal.

Iran still has problems in its banking transactions or in restoring its frozen assets, because Western countries and those involved in such processes are afraid of Americans, the Leader said at the time, criticizing the US for its moves to prevent Iran from taking advantage of the sanctions removal.

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