President Donald Trump’s decision to formally withdraw his endorsement of the global nuclear accord with Iran under U.S. law raises more questions than answers for overseas financial institutions, say sources.
Foreign financial institutions remain reluctant to process transactions to or from Iran on behalf of American companies and their overseas subsidiaries that are authorized to conduct the underlying business by the U.S. government, say sources.
Newly approved legislation imposing a raft of fresh sanctions on Russia, North Korea and Iran will afford the U.S. Treasury much greater insight into the financial activity of Iran’s powerful security force.
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