For the first time since last year’s lifting of sanctions against Iran, two European banks have announced the signing of financing deals with Iranian banks, and more are ready to follow.
Austria’s Oberbank and Denmark’s Danske Bank each entered into framework agreements with a number of Iranian banks on Thursday, under which they will provide financing for Austrian and Danish companies exporting to Iran.
The announcements could have huge symbolic significance as many large European banks continue to stay away from the Iranian market, wary of being penalised by the US sanctions that remain in place.