Eghtesad Novin Bank

Eghtesad Novin Bank latest

According to a joint plan of action agreed in November in Geneva, world powers would “establish a financial channel to facilitate humanitarian trade for Iran’s domestic needs using Iranian oil revenues held abroad”.

March 16th, 2014 - 03:55 GMT

Not so open for business after all? Western Banks giving Iran the cold shoulder

Despite a diplomatic thaw, Western banks are steering clear of attempts by Iran to get them involved in financing humanitarian transactions, fearing they could be penalised under US sanctions.