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February 16, 2016 10:48 am

US Banks Still Restricted From Doing Business With Iran Despite Lifting of Sanctions

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The Iranian flag. Iran remains off limits to US banks. Photo: Annahar.

The Iranian flag. Iran remains off limits to US banks. Photo: Annahar.

Iran remains essentially off limits to US banks, despite the lifting of some US sanctions following the landmark Iranian nuclear deal.

The Obama administration in mid-January eased several restrictions on doing business with Iran, including former “secondary” sanctions that had threatened to penalize companies outside the US for their business with Iran, as well as some restrictions on Americans seeking to make inroads in the oil-rich country.

Read full story at AFP.

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