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Despite the Geneva agreement, a vast majority of sanctions on Iran remains in place
Dubai: Businesses and banks need to be realistic on the existing economic sanctions and should not be in a rush to do business with Iran, David S. Cohen, Under Secretary for Terrorism and Financial Intelligence at US Treasury told Gulf News in an interview.
Cohen’s comments come at a time when leading global oil companies, banks and trading firms are preparing to head to Tehran in search of lucrative deals.
The recent thaw in relations between the West and Iran following Iran’s agreement with the P5+1 (Britain, China, France, Germany, Russia and US) on an interim deal on its nuclear programme has raised the hope among international businesses that the sanctions are on their way out.
"My message, first of all, is that anyone who is contemplating doing business with Iran should be extraordinarily careful because of the extensive and complicated sanctions that are still in place," said Cohen.
Don’t be in a hurry to do business in Iran: US | GulfNews.com
Dubai: Businesses and banks need to be realistic on the existing economic sanctions and should not be in a rush to do business with Iran, David S. Cohen, Under Secretary for Terrorism and Financial Intelligence at US Treasury told Gulf News in an interview.
Cohen’s comments come at a time when leading global oil companies, banks and trading firms are preparing to head to Tehran in search of lucrative deals.
The recent thaw in relations between the West and Iran following Iran’s agreement with the P5+1 (Britain, China, France, Germany, Russia and US) on an interim deal on its nuclear programme has raised the hope among international businesses that the sanctions are on their way out.
"My message, first of all, is that anyone who is contemplating doing business with Iran should be extraordinarily careful because of the extensive and complicated sanctions that are still in place," said Cohen.
Don’t be in a hurry to do business in Iran: US | GulfNews.com