Tehran, Iran, Oct. 15
Trend
Iran’s Bank Pasargad will open a branch in India in the coming days, the head of Iran-India Joint Chamber of Commerce Ebrahim Jalili told ILNA.
“The Indian government has issued a license, and Bank Pasargad’s branch will open in the country in the coming days,” Jalili said.
Opening this branch will be a great help to both Iranian and India businessmen in the era of US sanctions against Tehran, he added.
Jalili said it would also streamline banking transactions between the two countries’ banks, particularly in the private sector.
India was among the countries that preserved its trade ties with Iran during the previous sanctions and it was among the few countries that even increased its trade with Iran in that time.
On May 8, US President Donald Trump pulled his country out of the nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA), which was achieved in Vienna in 2015 after years of negotiations among Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany), and announced plans for new sanctions against Tehran.