Europe-Iran banking problems to be resolved in months
Tehran, Iran, April 29
By Mehdi Sepahvand - Trend:
The current problems that hinder banking relations between Iran and Europe will be resolved in a few months, says Britain-based economist Mehrdad Emadi.
The secondary US sanctions do not concern non-American banks and the US Treasury is set to ensure European banks that they will not suffer sanctions if they work with Iran, Emadi told Trend April 29.
In the wake of the removal of international sanctions on Iran in January, the country's efforts to conduct business with non-American companies and banks have failed because a US ban on the dollar in trade with Iran that remains from primary sanctions dating back to 1979.
Emadi says that Iran can redeem its right by filing a suit against the US in The Hague and the World Trade Organization.
Countries cannot even use the U-turn way to pay for the money they owe Iran in other popular currencies such as the euro due to the dollar ban.
This has made them unable to settle their debts to Iran which amount to a total of $53 billion.