Tuesday, October 19th | 13 Heshvan 5782

July 30, 2016 9:30 am

Rise of Trump, Brexit Bring Greater Banking Problems for Iran

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The Central Bank of Iran (main building). Photo: Orijentolog.

The Central Bank of Iran (main building). Photo: Orijentolog.

Britain’s vote to leave the European Union and the rise of U.S. presidential nominee Donald Trump have paralyzed efforts by Western governments to encourage already highly reluctant international banks to do business with Iran.

Uncertainty is frustrating Tehran’s push for foreign investment to revive its struggling economy: over Britain’s political and economic future, over whether Trump – who wants to scrap a nuclear deal with Iran – will get into the White House, and over whether banks will fall foul of U.S. sanctions if they process transactions with the Islamic Republic.

Read full story at Yahoo News.

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