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Some U.K. Banks Gear Up for Business with Iran
By Irene Madongo
printU.K. banks are engaging in discussions with institutions in Iran in conjunction with the British government's efforts to renew trade with the country, according to a government official. Last month, government trade bureau U.K. Export Finance (UKEF) announced that it would establish a $50 million fund to guarantee payments to U.K. professional firms that advise the government of Iran and said it would take other steps to facilitate trade with the country amid EU sanctions relief mandated by the Joint Comprehensive Plan of Action. The announcement followed last year's decision by the United Kingdom to reopen its embassy in Iran,...
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