Iran General NewsCommerzbank pares ties with Iran

Commerzbank pares ties with Iran

-

AFP: Commerzbank, the second-biggest bank in Germany, is to join other European banks in curtailing its activities with Iran, a spokesman said on Wednesday, as the United States seeks to isolate Teheran economically. FRANKFURT, Jan 10, 2007 (AFP) – Commerzbank, the second-biggest bank in Germany, is to join other European banks in curtailing its activities with Iran, a spokesman said on Wednesday, as the United States seeks to isolate Teheran economically.

Commerzbank will stop handling dollar transactions for Iran its its New York branch by the end of this month, the spokesman said, confirming a corresponding report in the Wall Street Journal Europe on Wednesday.

But the German bank would continue to handle euro transactions for Iranian clients, he added.

A number of European banks, such as Credit Suisse and UBS, have already taken similar decisions, paring back or ceasing altogether their operations with Iran.

The US says Iran’s state-controlled banks support terrorism and Washington is also seeking to financially quarantine Iran because of Teheran’s vows to press ahead with its nuclear programme in defiance of international will.

Latest news

 Statistics show that New Year accidents’ deaths in Iran reached 585

Ahmad Shirani, the head of the Information and Traffic Control Center of the Iranian regime’s police, announced that the...

Land Subsidence in Critical Conditions in Isfahan

Mehdi Toghyani, a member of the Iranian regime’s Majlis (parliament), pointed to the occurrence of land subsidence in various...

Iran’s Actual Inflation Rate Higher Than Official Stats

The state-run Donya-e-eqtesad newspaper, in a report analyzing the "general sentiment" regarding inflation in 2023, has stated that households...

Iranian Workers’ Monthly $136 Wages Can’t Cover $500 Expenses

The lives of a significant portion of the Iranian population are marked by uncertainty, largely because the Iranian economy...

Iranian Nurses Earn Twice Their Wages in Ride-Hailing Services

Reza Aryanpour, a member of the regime’s Majlis (parliament) Health and Treatment Commission, highlighted the growing trend of nurses...

Iran: Unprecedented Record of 152 Million Liters of Gasoline Consumption Per Day

On March 19, Iran set a new historical record in gasoline consumption with 152 million liters consumed in one...

Must read

Iran’s young women find private path to freedom

The Observer: A headscarf pushed back to show off...

Iran daily warns of dangerous year ahead

Iran Focus: Tehran, Iran, Mar. 20 – An Iranian...

You might also likeRELATED
Recommended to you