Economy, Domestic Economy

Green Light to US Firms’ Foreign Units

Green Light to US Firms’  Foreign UnitsGreen Light to US Firms’  Foreign Units

The United States will allow foreign subsidiaries of American companies to trade with Iran as part of sanctions relief granted under an international nuclear deal, the US Treasury Department said on Saturday. US citizens and companies are otherwise banned from trading with Iran, with few exceptions, by American sanctions that will remain in place even after the nuclear deal, Reuters reported. US authorities have also lifted restrictions on non-American purchases of Iranian oil, as well as the sale of goods and services, including automobiles, steel, coal, gold and insurance to major Iranian government entities, the department said.