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Sanctions, Banking Troubles Facing Iranians in Hong Kong

Sanctions, Banking Troubles Facing Iranians in Hong Kong Sanctions, Banking Troubles Facing Iranians in Hong Kong

Banking for companies that do business with Iran–as well as for Iranians themselves–is likely to get even more complicated in the near future. 
This month, a first round of US sanctions was put back into place following US President Donald Trump’s decision in May to revoke the Iran nuclear deal signed by his predecessor, Barack Obama. Under the deal, Iran agreed to limit its nuclear program in exchange for sanctions relief.
This first round of sanctions target any transactions with Iran involving US dollars, gold and other precious metals, aluminum, steel, commercial passenger aircraft, shipping and Iranian seaports.
Another round of sanctions is expected in November.

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