OFAC opened better ways for banking transactions with Iran

TEHRAN, Oct. 16 (MNA) – Iran’s deputy FM said despite certain challenges facing the implementation of the JCPOA, OFAC has modified some guidelines a few days ago and opened new and better ways for banking transactions with Iran.

Abbas Araghchi, Iran’s Deputy Foreign Minister for Legal and International Affairs, attended the final session of Iranian Parliament's nuclear committee on Saturday where he discussed the latest developments in the implementation of Iran’s nuclear deal, dubbed JCPOA.

The nuclear committee of the Parliament's National Security and Foreign Policy Commission is tasked with reviewing the implementation process of the JCPOA and compiling reports to be presented to the open sessions of the Parliament.

“About the reports, there are simultaneous challenges, some lack of commitment on the other side which needs to be dealt with, and there are also the achievements and economic progress of various bodies in the country,” Araghchi said.

About the challenges he said, “the other side was committed to create appropriate conditions for a successful implementation of the JCPOA, but they failed to so. We are constantly following up on these challenges.”

“Our current major problem is banking relations, but not in a way that we would say we have come to a dead-end in banking transactions,” Araghchi said. “Our banking affairs are being done, although some problems and challenges still exit which requires the US to take further steps in regard to lifting of sanctions.”

He added that the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury has modified some of its guidelines a few days ago and opened new and better ways for non-US banks to do US dollar transactions with Iran.


News Code 120557


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