Iran: Tehran pushes UK to help restore international banking links
Issue 1012
- 01 Apr 2016
| 4 minute read
A delegation of senior Iranian officials who visited London in early March had a few closely-intertwined tasks on their agenda: to drum up investment from UK companies, particularly oil firms, and to gain better access to the international financial system. The first cannot easily happen without the second, but neither is likely to happen quickly.While most international sanctions have been lifted this year, some US restrictions remain in place and they are having a deadening effect on international investment. The main issues are the ban on US involvement with Iranian financial institutions and the prohibition on non-US banks clearing dollar-denominated transactions involving Iran.
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