BREAKING NEWS

Iranian central bank, US Treasury, international banks to meet in London

By REUTERS

JULY 12, 2016 14:57

LONDON - A meeting will take place in London on Tuesday between the Iranian central bank, the US Treasury and international banks to discuss US sanctions, British Foreign Secretary Philip Hammond said.

Since international sanctions over Iran's nuclear program were lifted in January, the world's big banks have continued to stay away because they fear being penalized by remaining US sanctions over issues such as money laundering.

Asked by a lawmaker in parliament what discussions he was having with the United States on banking sanctions in order to encourage more British businesses to invest in Iran, Hammond said a meeting was due to take place in London.

"There is a meeting happening this afternoon ... between the Iranian Central Bank, the United States Treasury and international banks based in London in an attempt to try to make some progress on this matter," Hammond said.

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