CBI, US Treasury, Int’l Banks Meeting in London
Economy, Business And Markets

CBI, US Treasury, Int’l Banks Meeting in London

The Central Bank of Iran, the US Treasury and international banks were to meet in London on Tuesday to discuss stalled progress on banks resuming ties with Tehran after sanctions were lifted in January, British Foreign Secretary Philip Hammond said.
European banks, some of which have been punished for breaking sanctions imposed on Iran, have shown reluctance to resume trade ties until they get concrete reassurance that they will not be hit again.
Asked by a lawmaker in parliament what discussions he was having with the United States on banking sanctions in order to encourage more British businesses to invest in Iran, Hammond said a meeting was due to take place in London.
“There is a meeting happening this afternoon ... between the Iranian Central Bank, the United States Treasury and international banks based in London in an attempt to try to make some progress on this matter,” Hammond said as reported by Reuters.
However, sources close to the CBI told the Financial Tribune that the meeting had been deferred until later in the week.  
The meeting follows a visit by US Secretary of State John Kerry in May where he told Europe’s top banks they have nothing to fear from resuming business with Iran as long as they make proper checks on trade partners.
The banks however reiterated their concerns after the meeting, with lenders including Standard Chartered and Societe Generale saying they had no immediate plans to resume commercial activities with Iran.
Nine executives from leading European banks took part in the May meeting, including Deutsche Bank Chief Executive John Cryan and HSBC’s UK head Antonio Simoes.
It was not immediately clear which banks would attend Tuesday’s meeting.
Hammond said at that time that the objective was to draw Iran back into the international community, overcoming banks’ concerns that they risk further punishment for sanctions-busting.


Short URL : http://goo.gl/tEwfHk
  1. http://goo.gl/IcqkvY
  • http://goo.gl/PTMHqL
  • http://goo.gl/D8GdVz
  • http://goo.gl/IqGX3O
  • http://goo.gl/xtrQFs

You can also read ...

US Looking East After Fining Europe Over Iran Business
The US effort to put Iran in a financial bind meant European...
Proses has offered to explore a possible SISP at the world class Mehdiabad zinc (lead and silver) project in Iran where it has a role in development planning.
British mining and mineral processing technology company...
Depending on Iran’s progress in completing its action plan, FATF will take further steps in June 2018.
The Financial Action Task Force has recognized measures taken...
Iran’s Corruption Perceptions Index Improves
Iran’s score based on the Corruption Perceptions Index...
Home Security Startup Taps Face-Recognition Tech
A team of engineers that worked on self-driving cars and...
Crimean Ports Under Sanctions Looking for Way Out to Iran
Crimea’s ports, which are not operating at full capacity due...
SpaceX successfully deployed a satellite into low Earth orbit for the Spanish government.
SpaceX took a critical step Thursday toward making one of Elon...
Qazvin-Rasht Railroad to Come on Stream in 3 Months
The railroad to connect the two Iranian cities of Qazvin and...