The Office of Foreign Assets Control (OFAC) of the US Treasury Department has given Brazilian banks permission to work with Iran in euro, said the director of the Brazilian Foreign Ministry’s Trade and Investment Promotion Department, Rodrigo de Azeredo Santos during a meeting with officials from the Export Development Bank of Iran. He noted that top international rating agencies are expected to start assessing Iranian firms which “could be helpful in the expansion of banking relations between the two countries,” EDBI website quoted him as saying on Monday. Hussein Eivazlou, a board member of EDBI, also said that his bank’s operations are in accordance with strict anti-money laundering international norms. “We are also keen on expanding ties with Brazil’s BENDES bank,” he said. After the lifting of the sanctions in January the EDBI established correspondent relations with 120 banks across the world.
