Iran National Bank’s frozen assets in Germany freed
Tehran, Iran, Jan. 19
By Mehdi Sepahvand - Trend:
As economic sanctions on Iran were lifted, Deutsche Bundesbank freed the assets of the National Bank of Iran (known as Bank Melli Iran or BMI) in Germany, the BMI's CEO, Abdolnaser Hemmati said.
He added that following the move, 17 BMI subsidiaries will be able to work abroad, Fars news agency reported Jan. 19.
Hemmati said that in the meantime, Deutsche Bundesbank authorized BMI's branch in Hamburg, adding that the BMI's Dubai branch has also been freed of transaction barriers previously in place under sanctions.
The official said measures have been taken to launch the London branch of the BMI, noting that only a UK permit is left to be issued.
Hemmati further said Mir Business Bank CJSC, a BMI branch in Moscow, can also resume its full operations, adding that in one week, all BMI branches abroad will be operational.
Iran was freed of sanctions on Jan. 16, following the implementation of its famous nuclear deal with six world powers.
The day after, Iranian sources said over 1,000 letters of credit (LCs) had been opened for Iranian businesses.
Iran is also expected to join the SWIFT soon.