Georgian banks closing accounts of Iranians

Business Materials 21 May 2018 11:44 (UTC +04:00)

Tehran, Iran, May 21

By Kamyar Eghbalnejad - Trend:

The president of the Georgia-Iran Chamber of Commerce and Industry said Tehran is in talks with its embassy in Georgia to handle complaints by Iranian nationals who have had their bank accounts in Georgia closed, Mehr news agency reported.

“We held talks with Iran’s embassy in Georgia and they promised to follow up on the issue and let us know about the results,” Seyedeh Fatemeh Moghimi said on May 21 after confirming reports about the closures of some Iranians’ bank accounts in the Caucasus region.

Georgian officials have so far refused to provide obvious reasons why they close accounts of Iranian nationals, she added, noting that new US sanctions against the country and migration rules have been mentioned as potential problems.

We expect the issue to be resolved soon as the European Union has not yet given approval to the sanctions, Moghimi said.

In a speech from the White House on May 8, Trump announced the US withdrawal from the 2015 agreement, officially known as the Joint Comprehensive Plan of Action, between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany).

The US plans to reinstate sanctions against Tehran, with firms given 90-day or 180-day grace periods, depending on their business sector.