SpaceWar.com - Your World At War
Trump move ups Iran uncertainty for Austria's Oberbank
Vienna, May 9 (AFP) May 09, 2018
One of the few European banks to have a credit deal with Iran said Wednesday lending had been thrown into further doubt by the US withdrawal from a landmark nuclear agreement.

In September, Austria's Oberbank signed a framework agreement to finance Austrian investment projects in Iran's infrastructure, healthcare and plant construction sectors.

It was the first European lender to do so since sanctions were eased following the 2015 pact between Iran and world powers.

However, since then the bank has not extended any funding, citing legal uncertainty.

On Tuesday US President Donald Trump announced the US withdrawal from the "disastrous" agreement and the reimposition of sanctions on Iran.

Oberbank said it would have to wait for further details of the deal's future and the next US moves before deciding on whether it could eventually begin providing credit.

"We have to think of the security of our clients," Oberbank spokesman Frank Helmkamp told AFP, pointing to the danger of falling foul of US sanctions on businesses that have dealings in Iran.

In response to Trump's move the other parties to the agreement have said they will try to keep it functioning.

The foreign ministers of France, Britain and Germany are due to meet Iranian representatives next Monday "to consider the entire situation," France's Foreign Minister Jean-Yves Le Drian told RTL radio Wednesday.

Oberbank's statement reflects the general caution over financial firms' dealings with Iran and especially now after Trump's move.

jsk/bmm

RTL GROUP


ADVERTISEMENT




Space News from SpaceDaily.com
Rare Trans Neptunian Object Reveals Unexpected Orbital Dance with Neptune
7 Must-Read Astronautics Books for Future Aerospace Engineers
York to Acquire Operations to Boost Ground Connectivity and Mission Delivery

24/7 Energy News Coverage
Framatome opens advanced additive manufacturing hub in France
Framatome to supply nuclear fuel for Barakah plant boosting UAE energy security
Solestial to Accelerate Space Solar Array Production with $12M SpaceWERX Contract

Military Space News, Nuclear Weapons, Missile Defense
Germany seeks US guarantee before sending Patriots to Ukraine
Space Force general to oversee U.S. 'Golden Dome' missile shield
China says raised 'solemn representations' with EU over Russia sanctions

24/7 News Coverage
Alien life clues may emerge from deep sea volcanic vents on Earth
ICJ to hand down watershed climate opinion
Japan's Hokkaido sizzles as heat stroke alerts issued



All rights reserved. Copyright Agence France-Presse. Sections of the information displayed on this page (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence, you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the content of this section without the prior written consent of Agence France-Presse.