(Persia Digest) – Six banks from the Volkswagen Financial Services AG - Volkswagen Group intend to continue opening L/Cs for exporting companies to Iran despite the threats of US secondary sanctions. the International Competency Center says the transactions of these banks have been set for "difficult countries".
As reported by Deutsche Welle, Director of the International Competency Center (Kompetenz Center International), Patricia Melfi, has announced the Center’s decision to continue transactions with the Volkswagen Group of banks, including Württemberg, Pforzheim, Heilbronn, Constance, and Schwarzwald-Donanekara to open L/Cs and transactions with Iran.
Earlier, Handelsblatt Global - European Business & Finance News – had also reported on the Center’s decision to continue work with Iran.
The said Center verifies the eligibility of banks for financial and credit transactions.
Following its unilateral withdrawal from the JCPOA, the US has threatened Iran with the toughest sanctions regime in the World to “crush” it. The EU has been scrambling to safeguard its trade and banking transactions with Iran. Peter Altmaier, the German Federal Minister for Economic Affairs and Energy, has been talking with the White House to consider exceptions in the reimposition of sanctions on Iran and postpone their date.