Reuters exclusively reports European allies pushed back when Trump sanctioned Iran’s banks

Business & Finance

Reuters exclusively reported that Germany, France and Britain urged the Trump administration in late October to reconsider broad, new sanctions against Iran’s banks, arguing that the move would deter legitimate humanitarian trade and hurt the allies’ common interests. Germany’s Bundesbank also kept a multi-billion-euro deposit facility open for Iranian banks, including two that faced fresh U.S. sanctions, giving Tehran a much-needed banking lifeline. The behind-the-scenes pushback and the extent of Germany’s support to Iranian trade in the face of U.S. sanctions have not been previously reported, and shed new light on the divergent approaches to Iran taken by President Donald Trump and the U.S. allies.

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Equities

Regions: Europe / Middle East / Africa

Countries: EnglandGermany

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Major Global Story

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