AFP, Brussels :
Foreign banks and private businesses should not hold back from conducting legal business with Iran, a group of countries including the United States, France, Britain and Germany said Friday.
In a joint statement released after talks in Brussels, the Western powers sought to reassure companies that, after the Iran nuclear deal, certain forms of trade are permitted.
“We will not stand in the way of permitted business activity with Iran,” the four powers plus the European Union said.
“And we will not stand in the way of international firms or financial institutions engaging with Iran, as long as they follow all applicable laws,” they added.
Under the terms of the Iran nuclear deal signed last year and implemented in February, international sanctions aimed at Tehran’s nuclear programme have been dropped.
But the United States has maintained some of its sanctions targeting Tehran’s alleged sponsorship of armed movements in the Middle East and its ballistic missile programme.
European banks, which usually have subsidiaries on US soil, have therefore been slow to resume business with Iran, fearing prosecution in the United States.
Foreign banks and private businesses should not hold back from conducting legal business with Iran, a group of countries including the United States, France, Britain and Germany said Friday.
In a joint statement released after talks in Brussels, the Western powers sought to reassure companies that, after the Iran nuclear deal, certain forms of trade are permitted.
“We will not stand in the way of permitted business activity with Iran,” the four powers plus the European Union said.
“And we will not stand in the way of international firms or financial institutions engaging with Iran, as long as they follow all applicable laws,” they added.
Under the terms of the Iran nuclear deal signed last year and implemented in February, international sanctions aimed at Tehran’s nuclear programme have been dropped.
But the United States has maintained some of its sanctions targeting Tehran’s alleged sponsorship of armed movements in the Middle East and its ballistic missile programme.
European banks, which usually have subsidiaries on US soil, have therefore been slow to resume business with Iran, fearing prosecution in the United States.
