Tehran Warns It May Withdraw From The Nuclear Deal If International Banks Continue To Shun Doing Business With Iran

Iran's Deputy Foreign Minister Abbas Araqchi speaking at the Chatham House think tank in London, Britain February 22, 2018. REUTERS/Bozorgmehr Sharafedin

Reuters: Iran says may withdraw from nuclear deal if banks continue to stay away

LONDON (Reuters) - Iran will withdraw from the 2015 nuclear deal if there is no economic benefit and major banks continue to shun the Islamic Republic, its deputy foreign minister said on Thursday.

Under the deal with Britain, China, France, Germany, Russia and the United States, Iran agreed to restrict its nuclear program in return for the removal of sanctions that have crippled its economy.

Despite that, big banks have continued to stay away for fear of falling foul of remaining U.S. sanctions - something that has hampered Iran’s efforts to rebuild foreign trade and lure investment.

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Update: Iran Might Ditch Nuclear Deal Before Trump if It Fails to Pay Off (Newsweek)

WNU Editor: The problem is that Iran openly supports groups that have been designated as terrorist organizations .... Hezbollah and Hamas to name a few. No bank will want to position themselves to be liable in the event that one of these groups conduct a terror attack .... and an Iranian banking-link to them is found. The penalties will be severe.

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