Minister: France to encourage banks to work with Iran
By Kamila Aliyeva
France will do everything to ensure the trust of international banks in the issue of cooperation with Iran, French Economy Minister Michel Sapin said in Iran, IRNA news agency reported.
"We can't work on developing our economic relations if we don't also normalize our banking relations," he said after meeting his Iranian counterpart Ali Tayebnia.
"Over the past few months, relations (between Iran and France) have considerably developed. There are projects being realized, contracts being signed," he said, noting that financial circuits need to be normalized.
Trust must be built "to allow companies -- if they so wish -- to have financing channels that are safe and efficient", Sapin said.
French and other European companies have returned to Iran since the partial lifting of international sanctions in January 2016, when a landmark nuclear deal with world powers came into force.
However, international banks have not re-established financial circuits with Iran, fearing reprisals from Washington which has maintained some economic sanctions against the country.
“I will make efforts to ensure the confidence of international banks for cooperation with Iran, and I am sure that this will be achieved,” Sapin said commenting on the doubts of a number of international banks in the issue of cooperation with Iran.
"France's big banks are international banks. They work around the world including in the United States. It is therefore normal that they worry about respecting American rules with regards to their American activities," Sapin said."I can't blame them, but they need to rebuild trust.”
Iran, five permanent UN Security Council members, Germany and the European Union signed the JCPOA in July 2015 to ensure the peaceful nature of Iran’s nuclear program.
Then, the Islamic republic pledged to refrain from developing or acquiring nuclear weapons in exchange for the lifting of sanctions imposed against Iran.
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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
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