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| Le Monde: International Banks More Cautious Over Violation of Iranian Regime's Sanctions |
Big international banks are still reluctant to fund commercial and industrial contracts with the Iranian regime, worrying about US-raised legal and judicial risks associated with negotiating and trading with the Iranian regime.
“Big international banks have grown more cautious following the heavy fines imposed in 2014 by Washington on the French BNP Paribas as well as the Deutsche Bank for their violation of sanctions.”, adds the newspaper.
Le Monde maintained that “banks’ reluctance and awareness have intensified due to the distrust caused by Trump’s rise to power, as he has threatened to tear up Iran’s nuclear deal during his election campaign.”“Structural problems are hindering Iran’s economy from growing”, adds the newspaper, “Manufacturing companies are in turmoil and production has reached rock bottom. A large part of the population have become poorer while unemployment rate is rising.”
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