Its assets unfrozen and an international nuclear deal in place, Iran is open for business, and courting some huge deals with global companies in an effort to rebuild its economy after decades of sanctions. It’s not going very smoothly.
Supreme Leader Ayatollah Ali Khamenei complained that the US is not following through with promised sanctions relief, saying many of the sanctions were only removed “on paper,” and that the US banking sanctions are still creating huge obstacles.
US banks are still largely forbidden from doing business with Iran, which wouldn’t in and of itself be a big deal since Iran’s deals are mostly with European and Asian companies anyhow, but international banks not based in the US are still fearing US punishment for processing the deals.
That’s largely because the US hasn’t offered any sort of public position statement on doing business with Iran since the removal of the sanctions, and many banks believe that they’ll end up a target for facilitating multi-billion dollar deals.
Last 5 posts by Jason Ditz
- Germany Suspends Training for Iraqi Kurdish Troops - October 18th, 2017
- Oil Firm Sees Congressional Vote on Iran Deal as Potential Positive - October 18th, 2017
- Saudi Airstrike Kills Six Civilians, Mostly Children, in North Yemen - October 18th, 2017
- Kurdish Independence at Risk Amid Iraqi Offensive - October 18th, 2017
- Catalonia Will Declare Independence If Spain Suspends Autonomy - October 18th, 2017