Wednesday, May 09, 2018

Nuclear deal: Iran faces the most powerful organisation you’ve never heard of

Middle East Eye

Before Western powers imposed sanctions on Iran in 2011, the US Treasury Department went on a roadshow in Europe and Dubai to persuade banks to stop transactions with the country.
But since the nuclear agreement in 2015 that eased the sanctions, the US Treasury hasn’t had to arm-twist. Instead, private European and Gulf banks have voluntarily refused Iran-related transactions, leaving a mere handful of European banks willing to deal with the country.

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