Treasury Official Says Foreign Banks Will Stay Away from Iran in Coming Months

By Colby Adams

Foreign banks and companies will only reenter the Iranian market upon the finalization of a comprehensive, permanent nuclear agreement with the country, U.S. officials said Tuesday. In a hearing, U.S. Undersecretary for Terrorism and Financial Intelligence David Cohen told members of the Senate Foreign Relations Committee that the recent spate of visits by foreign trade delegations to Tehran won't result in new commercial deals under the 6-month joint plan of action agreed to by Iran and six other nations in November. "We are as crystal clear as possible in all of our engagements that if these talks turn into deals...