Europe Plans Bank Accounts For Iran To Ease Repatriation Of Oil Revenues

• Europe Plans Bank Accounts For Iran To Ease Repatriation Of Oil Revenues
  by https://en.radiofarda.com/
  The Wall Street Journal quoted “several European officials” on July 16 as having said that three European states are about to open new accounts or activate old accounts for the Iranian Central Bank in spite of US sanctions in what it described as “the first concrete sign that Europe could deliver on its promise” to sustain the Iranian nuclear deal.
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  Iran, in return, would need to implement legislation to meet anti-money-laundering standards set by an international watchdog, the Financial Action Task Force (FATF), the officials said. This comes while last week Iranian hardliners overturned the Rouhani administration’s decision to join the FATF.
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  “The French, British and German governments have told Iran they are exploring activating accounts for the Iranian central bank with their national central banks in a bid to open a financial channel to keep alive the Iranian nuclear deal, according to several European officials,” wrote the Wall Street Journal.
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  The WSJ article, however, noted that the measure would set European governments squarely against the Trump administration sanction policy aimed at isolating Tehran economically.
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  US President Donald Trump reiterated on the same day in an interview with Fox News that the nuclear deal with Iran the US withdrew from in May “is good for a lot of countries that do business with Iran, but it is not good for this country [U.S.] and it is not ultimately good for the world.”
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  Iran stayed in the nuclear deal with the West, also known as the Joint Comprehensive Plan of Action (JCPOA) following the US withdrawal, but said it will remain in the deal if the remaining parties to the deal would guarantee Tehran’s benefits.
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  Iran’s Supreme Leader Ayatollah Ali Khamenei further conditioned Iran’s staying in the deal to Europe’s offering “practical guarantees” for Iran to benefit from the JCPOA and to secure its oil exports and revenues.
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