EU foreign policy chief visits Iran

Image
AFP Tehran
Last Updated : Apr 16 2016 | 4:57 PM IST
The European Union's top diplomat Federica Mogherini arrived in Tehran today on her first visit since a nuclear deal between Iran and world powers came into force as tensions surface over its implementation.
Mogherini, who was the lead negotiator for the six powers who struck the deal, was accompanied by other top EU officials. She was to meet Iranian Foreign Minister Mohammad Javad Zarif.
Her one-day trip comes after Iran raised concerns about banking sanctions, with officials saying the West, particularly the United States, is still creating hurdles to its access to the global financial system.
Yesterday, the governor of Iran's Central Bank said the international community was not sticking to its promises.
"The impact that we were expecting to get is not what we see, at least on a tangible basis," Valiollah Seif told a forum at the Council of Foreign Relations in Washington.
The six powers led by the United States agreed in July last year to lift sanctions that had locked down much of the Iran's economy for years in exchange for limits on Tehran's nuclear programme.
The move allowed Iran to resume a higher level of oil exports when the deal was implemented in January, as well as opening up more trade opportunities.
But with the US still maintaining some sanctions on the country, Iran's access to global finance remains limited.
Seif, in the US capital for the IMF-World Bank spring meetings, pointed to a reluctance by European banks to engage with Iran for fear of falling foul of US sanctions.
"They have been asked not to work with Iranian banks, and they're afraid," he said.
"It's because of the heavy penalties that have been imposed upon them," he said, referring to huge fines imposed in the past.
Ahead of her trip to Tehran, Mogherini said banking, investment and trade were on the agenda of her talks, as well as the conflicts in Syria and Yemen, where the West has been looking for Iran's cooperation with peace efforts.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Apr 16 2016 | 4:57 PM IST

Next Story