Kerry: No objection in the way of foreign banks engaging with Iranian banks

Secretary of State John Kerry before meeting Iranian Foreign Minister Mohammad Javad Zarif on Friday said US has no objection does not stand in the way of foreign banks engaging with Iranian banks and companies.

Discussing the implementation of the Joint Comprehensive Plan of Action (JCPOA), Kerry emphasized on the fact that U.S. has lifted nuclear-related sanctions, as U.S. committed to do, and there are now opportunities for foreign banks to do business with Iran.

Referring to the existence of confusion among some foreign banks, he said that we try to clarify that as much as we can.

He added that among the nuclear-related sanctions that were lifted were those that prevented Iran from engaging with non-U.S. banks, including getting access to Iran’s restricted funds that were previously held overseas.

On the reason for which the State and the Treasury Departments have been actively engaged with partner governments and the private sector in order to clarify those sanctions that have been lifted, Kerry said that, ‘We understand that banks and businesses have complicated business decisions to make, and they have to make them.

He noted that, ‘We recognize it is going to take some time for companies to feel confident in reengaging with Iran, and in all fairness, that is due to concerns other than sanctions.’

‘I want to make clear the United States is committed to doing our part as we believe it is in our interest to ensure that the JCPOA, the nuclear agreement that we reached, that it is in fact working for all participants’, Secretary Kerry said.

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