Sunday, September 25, 2022

Kuwaiti banks ready for cooperation with Iran in post-sanction era

Kuwaiti banks and businesses are ready for resuming cooperation with Iranian banks, Kuwaiti daily al-Rai said on Tuesday.

The daily wrote that resumption of banking operation with Iran does not need a go-ahead of Kuwait Central Bank following cancellation of US and European sanctions.
It said that Iran was under two kinds of sanctions, one by the UN Security Council resolutions and another by the US and European Union.
Al-Rai wrote that Kuwaiti Central Bank should act only upon the UN Security Council resolutions.
It said that the US sanctions stopped transactions of Kuwaiti banks with Iran not that of the UN.
International Atomic Energy Agency published its report on Saturday evening about Iran fulfillment of its commitments upon Joint Comprehensive Plan of action (JCPOA), a prelude to implementation of commitments of Group 5+1 on cancellation of sanctions.

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