IFP Exclusive

Europe to Open Channel to Facilitate Iran Banking Transactions: Official

Europe is seeking to open up a banking channel to allow conduction of transactions with Iran, as part of measures to protect European companies doing business in Iran against Washington’s move to re-impose anti-Tehran sanctions, an Iranian official said.

“Europeans are after creating a banking channel to allow funding [of projects] and financial transactions,” said Behrouz Kamalvandi, the spokesman for the Atomic Energy Agency of Iran.

Speaking in a Saturday press conference, Kamalvandi said Europeans are working hard to finalize a mechanism to counter anti-Iran US sanctions.

“They are trying to activate the mechanism before August 8, when the US sanctions on Iran will be restored, to protect their companies so they are not obliged to observe extra-territorial sanctions imposed by other countries,” Kamalvandi said, according to Fars News Agency.

Kamalvandi’s comments came shortly after a meeting between Iran’s nuclear chief Ali Akbar Salehi and EU Commissioner for Energy and Climate Miguel Arias Canete in Tehran.

US President Donald Trump pulled the country out of the deal on March 8, when he announced the US will snap back its anti-Iran sanctions suspended under the pact and will impose “the highest level” of economic bans on the Islamic Republic.

Iran has announced the deal could remain in place only if European parties to the pact give Tehran firm assurances that its interests will be served if they remain in the deal.

IFP Editorial Staff

The IFP Editorial Staff is composed of dozens of skilled journalists, news-writers, and analysts whose works are edited and published by experienced editors specialized in Iran News. The editor of each IFP Service is responsible for the report published by the Iran Front Page (IFP) news website, and can be contacted through the ways mentioned in the "IFP Editorial Staff" section.

Recent Posts

“Iran Hamdel” campaign sends aid to Gaza amid war

Aid items donated by millions of Iranians within a national campaign, have reached the beseiged…

7 hours ago

Iranian deputy FM: Cooperation with Saudis serves as a successful model for fostering peace and security

Iran's Deputy Foreign Minister Majid Takht Ravanchi has said Iran and Saudi Arabia are committed…

7 hours ago

Official: Iran responds to IAEA resolution with increased nuclear enrichment capacity

Behrouz Kamalvandi, the spokesperson for the Atomic Energy Organization of Iran (AEOI), says the organization…

8 hours ago

Pictures: Demonstrators in Tehran support people of Gaza, Lebanon

Hundreds of people gathered in Tehran on Friday morning in front of the United Nations…

8 hours ago

Int’l lawyer: US plans to sanction countries cooperating with ICC on Netanyahu arrest

An international law expert and analyst has revealed the U.S. plans to impose punitive measures…

11 hours ago

Minister of science: 25% of Iranian university professors emigrated due to economic challenges

Iran’s Minister of Science, Research, and Technology, Hossein Simayee Saraf, addressed on Thursday academic migration…

11 hours ago