Banking Ties Unaffected by US Deal Exit

Iran’s banking relations with the international community, excluding the US, will continue as usual following the United States’ May 8 withdrawal from the Joint Comprehensive Plan of Action (the formal name of the nuclear deal Iran signed with six world powers), a senior member of Majlis Economic Commission said. “Considering the fact that our country’s economy, especially our banking ties, was not fully restored following the signing of JCPOA, nothing will happen to us now that the US has withdrawn from it either,” Mohammad Hossein Hosseinzadeh Bahraini also told IBENA. He said what matters now is how much European nations would cooperate with the US in devising sanctions, adding that if they remain faithful to their commitments, “it is not likely that Iran would experience any extra pressure, at least in the banking sector”.