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Home / World / Austrian Bank in Iran freezes businesses fearing US sanctions – International News

Austrian Bank in Iran freezes businesses fearing US sanctions – International News



  Oberbank

Oberbank.
(Photo: REUTERS / HEINZ-PETER BADER)

Austrian Oberbank, the first European bank to enter the Iranian financial system since Iran's 2015 nuclear deal, announced on Thursday that it had failed to do business with Tehran because of US sanctions.

An article in the Austrian Daily The Press wrote: "As the first Western financial institution, Oberbank reached a financial agreement with Tehran in September, and the projects remain" on hold "- the US government" obstructed "massive business."

The article dealt with the financial solidity of Oberbank and was subtitled: "Only the Iran business has not gained momentum." The Austrian report said that President Trump will decide at the end of April whether the nuclear agreement will be extended calls for Europe to agree to tighten existing sanctions.

The newspaper added that the "secondary sanctions" could hit companies outside of the US as well: "We have to look at it closely," said bank chief Franz Gasselsberger. Oberbank is the seventh largest bank in Austria.

Trump said in January that 1

2 May is the latest date for the European Union to address the shortcomings of the 2015 nuclear treaty, which is officially called the Joint Comprehensive Plan of Action (JCPOA). , Austria as well as Spain and Italy are vehemently against the reorganization of the JCPOA.

Specifically, the US wants to prevent the sun from turning to the JCPOA by transforming the temporary sunset clause that makes the Iranian path to the development of a nuclear bomb an integral part of the JCPOA. Iran will have the right to build a nuclear weapon if the JCPOA expires in seven years. The US also demands immediate, thorough inspections of Iran's nuclear and military facilities and rigorous restrictions on the Tehran missile program.

Contrary to former US President Barack Obama's US administration, the Trump government is seeking a comprehensive plan to curb Iran's terrorism in the Middle East and support the Lebanese Hezbollah militia.

In September 2017, Oberbank met with representatives of the Iranian Central Bank and Finance Ministry and a huge deal with the Iranians to enable Austrian companies to start projects in the Islamic Republic. The Oberbank-Iran meeting in the Austrian city of Linz extended to previously sanctioned businesses and should last more than two years, according to a report by Reuters in 2017.

A Vienna-based reporter from the Islamic Republic news agency tweeted at the beginning of March that Oberbank was part of a € 1 billion credit line with the Iranian regime.

The Danish giant bank Danske also announced Iran's regime last year. An increasing number of US states, including New Jersey, Colorado, Illinois and Colorado, sanctioned Dankse Bank for participating in BDS activities (boycott, divestitures, sanctions) against Israel.

Dank denies that it is boycotting the Jewish state.

The Wall Street Journal reported in March that "shareholders were annoyed by Danske Bank's mistakes in the fight against money laundering in Estonia."



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