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In Sanctions Accord, Iran Finds Little Relief, U.S. Official Says
By Kira Zalan
printEven with limited sanctions relief from the United States, foreign banks have been reluctant to process transactions for Iran under the terms of a newly-extended multilateral accord, an American official said Tuesday. Under a joint plan of action implemented in January and extended earlier this month through November, the United States and four other nations temporarily suspended economic restrictions targeting Iran's petrochemical, automotive and precious metals industries. The deal, which tethers aspects of Iran's nuclear program, also suspends periodic restrictions on Iranian oil exports. Despite the accord, "Iran is not open for business," U.S. Under Secretary for Terrorism and Financial...
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