Bulgaria pledges to help resolving Iran’s banking issues with Europe

Business Materials 11 July 2016 15:25 (UTC +04:00)

Baku, Azerbaijan, July 11

By Khalid Kazimov – Trend:

Bulgarian Prime Minister Boyko Borissov has pledged to help resolving Iran’s banking issues with Europe.

Addressing a joint press conference with Iranian First Vice President Eshaq Jahangiri in Tehran July 11, the visiting prime minister said he will inform the European officials about difficulties that the Islamic Republic experiences in re-establishing banking ties with the EU, IRNA news agency reported July 11.

He added that Bulgarian ministers of finance and foreign affairs will also make efforts to help resolving the issue with Europe.

Heading a politico-economic delegation, Borissov arrived in Tehran July 11 on a two-day official visit to discuss expansion of bilateral ties.

Although nuclear-related sanctions on the Islamic Republic were removed following the implementation of the Joint Comprehensive Plan of Action (JCPOA) this January, the concerns over running afoul of US regulations have made the global bankers reluctant to do business with Iran.

Meanwhile, US businesses are still prohibited from direct engagement with Iran.