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Leaving Most Sanctions Untouched, Iran Accord Unlikely to Attract Western Banks
By Colby Adams
printWestern financial institutions won't radically amend their sanctions controls in response to an agreement to limit Iran's nuclear program in exchange for a relaxation of banking restrictions, say former officials. Under terms reached Saturday, the United States and four European nations agreed to suspend current restrictions on Iran-related sales of precious metals and automobiles and establish a payment "channel" for licensed humanitarian shipments. U.S. officials will also hold off on asking other nations to significantly reduce their imports of Iranian oil every six months as mandated under a 2011 law. The plan, which expires in May, allows Iran to repatriate...
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