UK banks set for US meeting to iron out Iran trade concerns
Some of the biggest banks in the UK have been invited to meet US secretary of state John Kerry to discuss last year's lifting of economic sanctions on Iran.
The British Bankers' Association (BBA) has circulated a note to members asking them to send senior representatives to a meeting with Kerry later this week.
The meeting, to be held in London, is also expected to include executives from French and German banks.
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Sky News first reported that the meeting, coming at a time when banks are interested in doing more business with Iran but concerned about the consequences of deals and the reaction of the US, was proposed by UK foreign secretary Philip Hammond.
Kerry, who is in the UK for an anti-corruption summit, has previously stated that the US is not opposed to foreign banks doing business with Tehran.
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Before a meeting with Iranian foreign minister Mohammad Javad Zarif last month, he said: "The United States is not standing in the way, and will not stand in the way, of business that is permitted in Iran since the [nuclear deal] took effect.”
He added: "There are now opportunities for foreign banks to do business with Iran… Unfortunately there seems to be some confusion among some foreign banks and we want to try and clarify that."
The BBA declined to comment.