Governmental documents published Monday cleared the way for foreign financial institutions to process limited transactions for Iranians but U.S. banks will be unlikely to relax their sanctions policies, according to experts. The expected publications, issued as part of a broad accord among Iran, Germany and the five permanent member-states on the United Nations Security Council, permit banks to facilitate Iran's trade of crude oil, petrochemical byproducts, precious metals, automotive parts and aircraft maintenance. Banks may also handle funds related to "associated services" underlying the sanctions relief package. In guidance, the U.S. Treasury Department clarified that American financial institutions could only...
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