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Iran, Italy Private Sectors Discuss Creation of Special Bank - Exclusive

Iran, Italy Private Sectors Discuss Special Bank
Iran, Italy Private Sectors Discuss Special Bank

Committed to preserving historically close trade relations between Iran and Italy, private sectors from both sides have explored the setting up a small bank to side-step the new US sanctions imposed last year after President Donald Trump abandoned the Iran nuclear deal. 
"In our meetings with the private sector in Italy, they proposed opening a small bank for euro transactions with Iran without the involvement of the US dollar," Lida Shahabi, general secretary of Iran-Italy Joint Chamber of Commerce told the Financial Tribune. 
"Italy has a big share in Iran’s market and the Iranian market has both potential and capacity. Because Italy has been its number one trading partner [in Europe] it does not want to lose Iran," she said.  


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