UniCredit CEO expects to reach agreement with US over Iran by year-end

TEHRAN, Aug. 08 (MNA) – Italy’s biggest bank UniCredit expects to reach a deal with the United States in a dispute over alleged sanctions violations in Iran in the coming months, its CEO said on Tuesday.

“We are confident we can reach an agreement with the US before the end of the year,” Jean Pierre Mustier said in a conference call on the company’s second-quarter results, Reuters reported.

In 2011, UniCredit was subpoenaed by the New York county authorities over a series of past operations involving Iranian companies.

The US Department of Justice then opened an investigation in 2012 to look into the extent to which the bank had met measures introduced by the US Treasury Department’s Office of Foreign Assets Control.

UniCredit has said it is carrying out its own internal investigation to assess past payments in US dollars and its respect of the US imposed sanctions.

New US sanctions against Iran took effect on Tuesday, with President Donald Trump pledging firms doing business with Tehran would be barred from doing business with the United States.

MA/PR

News Code 136541

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