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A French bank is risking funding for Iranian projects
Sunday 24 September 2017 at 16:03 PM (27 views)
A French bank is risking funding for Iranian projects
Sky Press Agency
The bank will fund projects for French companies in Iran starting in 2018 and will provide loans of up to 500 million euros ($ 589 million) a year, the chief executive of the French investment bank said.
"Unless force majeure becomes otherwise, we will support them from the beginning of 2018. We are the only bank that can do so without risking US sanctions as a result of violating the remaining sanctions," Nicola Dufourc said in a press release.
Most sanctions against Iran have been lifted under a nuclear deal it struck with the six world powers in 2015 in return for curbing its nuclear program, paving the way for business deals.
But many banks are distancing themselves from dealing with Iran for fear of inadvertently violating the remaining sanctions, which could expose them to huge fines.
As the French bank does not operate abroad, particularly the United States, it is exempt from any possible fines.
Several Iranian-French deals were announced during an official visit by Iranian President Hossein Rouhani to Paris in January last year, which includes a joint venture between French automaker Peugeot Citroen and Iran Khodro, as well as Iranian plans to buy Airbus to modernize its aging fleet. Petroleum, shipping, health, agriculture and water.
http://www.skypressiq.net/2017/9/24/%D8%A8%D9%86%D9%83-%D9%81%D8%B1%D9%86%D8%B3%D9%8A-%D9%8A%D8%BA%D8%A7%D9%85%D8%B1-%D8%A8%D8%AA%D9%82%D8%AF%D9%8A%D9%85-%D8%AA%D9%85%D9%88%D9%8A%D9%84%D8%A7%D8%AA-%D9%84%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7%D8%AA-%D8%A5%D9%8A%D8%B1%D8%A7%D9%86%D9%8A%D8%A9
Sunday 24 September 2017 at 16:03 PM (27 views)
A French bank is risking funding for Iranian projectsSky Press Agency
The bank will fund projects for French companies in Iran starting in 2018 and will provide loans of up to 500 million euros ($ 589 million) a year, the chief executive of the French investment bank said.
"Unless force majeure becomes otherwise, we will support them from the beginning of 2018. We are the only bank that can do so without risking US sanctions as a result of violating the remaining sanctions," Nicola Dufourc said in a press release.
Most sanctions against Iran have been lifted under a nuclear deal it struck with the six world powers in 2015 in return for curbing its nuclear program, paving the way for business deals.
But many banks are distancing themselves from dealing with Iran for fear of inadvertently violating the remaining sanctions, which could expose them to huge fines.
As the French bank does not operate abroad, particularly the United States, it is exempt from any possible fines.
Several Iranian-French deals were announced during an official visit by Iranian President Hossein Rouhani to Paris in January last year, which includes a joint venture between French automaker Peugeot Citroen and Iran Khodro, as well as Iranian plans to buy Airbus to modernize its aging fleet. Petroleum, shipping, health, agriculture and water.
http://www.skypressiq.net/2017/9/24/%D8%A8%D9%86%D9%83-%D9%81%D8%B1%D9%86%D8%B3%D9%8A-%D9%8A%D8%BA%D8%A7%D9%85%D8%B1-%D8%A8%D8%AA%D9%82%D8%AF%D9%8A%D9%85-%D8%AA%D9%85%D9%88%D9%8A%D9%84%D8%A7%D8%AA-%D9%84%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7%D8%AA-%D8%A5%D9%8A%D8%B1%D8%A7%D9%86%D9%8A%D8%A9
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