Iran Receives First Round of Post-Sanctions Finance from European Banks

In what were the first finance deals clinched with cautious European banks after the implementation of the nuclear accord provided sanctions relief in January 2016, Iran signed two agreements worth a total of €1.5 billion ($1.8 billion) with Austria's Oberbank and Denmark's Danske Bank on Thursday.

Financial Tribune – In what were the first finance deals clinched with cautious European banks after the implementation of the nuclear accord provided sanctions relief in January 2016, Iran signed two agreements worth a total of €1.5 billion ($1.8 billion) with Austria's Oberbank and Denmark's Danske Bank on Thursday.

A delegation headed by Mohammad Khazaei, director of the Organization for Investment, Economic and Technical Assistance, and Ahmad Araqchi, the newly-appointed Central Bank of Iran's deputy for foreign exchange affairs, which also included chief executives and board members of a cohort of Iranian banks, was in Vienna to sign the deals, the official website of CBI reported.

The two deals were signed hours away at the residence of Iran's Ambassador to Austria Ebadollah Molaei in Vienna. 

Sep 23, 2017
Financial Tribune |