Iran-Europe Joint Bank Proposed to Salvage Deals

Iranian officials, executives and pundits have on many occasions floated the idea of creating a new joint bank with European nations to secure financial ties in the face of looming US sanctions. 
Now another veteran of Iran’s financial sector also referred to the idea, saying it may be one of the few ways of salvaging Iran’s billions of dollars worth of foreign finance deals.
“Europe’s political stance is to support Iran, but we don’t know just how much they will remain committed to this in practice. Establishing a joint bank can be a good way for Europeans to show their commitment toward JCPOA in a practical way,” Asghar Fakhrieh-Kashan also told ILNA in reference to Iran’s nuclear accord.