All tagged finance

EU Announces Legal Entity to Maintain Business With Iran

◢ The European Union said Monday its members would set up a payment system to allow oil companies and businesses to continue trading with Iran in a bid to evade sanctions after the US withdrew from a nuclear agreement. Iran and the European Union announced their defiance towards US President Donald Trump's administration after high-level talks at the United Nations among the remaining members of the accord.

Iran Sanctions Shadow Falls on Smaller German Banks

◢ Germany's biggest lenders have shied away from business with Iran after past penalties for breaching US sanctions, but smaller banks have leapt on opportunities afforded by the nuclear deal rejected by Donald Trump. Officials at Germany’s central bank believe that much has so far changed for business with Iran.