Economy, Business And Markets

Big Benefits of a German ‘Iran Bank’

Big Benefits of a German ‘Iran Bank’
Big Benefits of a German ‘Iran Bank’

Since US President Donald Trump pulled out of the nuclear agreement with Iran, formally known as the Joint Comprehensive Plan of Action, the EU has been looking for ideas to prevent the worst: the exit of Iran from its obligations under the deal. 
The best way to prevent that is to keep private investment flowing from Europe to Iran. To finance such business, the deputy head of the Americas research division at the German Institute for International and Security Affairs (SWP) has proposed that Germany launch a bank, or convert an existing German bank, into an “Iran bank”.
In an opinion piece in the German news website Handelsblatt Global, Laura von Daniels wrote that when Trump withdrew from the JCPOA in early May he also reimposed “the highest level of economic sanctions” that had been waived as part of the Iran nuclear deal. These US sanctions do not apply only to American firms, but also hit companies and individuals in third states that do business with Iran.


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