S.Africa in talks with OFAC to settle banking problems with Iran

Young journalists club

News ID: 19341
Iran » Iran
Publish Date: 16:09 - 14 February 2018
TEHRAN, February 14 - South African Ambassador to Iran William Max Whitehead said his country is in talks with US Office of Foreign Assets Control (OFAC) to remove banking problems with Iran.

S.Africa in talks with  OFAC to settle banking problems with IranTEHRAN,Young Journalists Club (YJC) - He said the level of bilateral ties between Iran and South Africa has increased after Iran’s 2015 nuclear deal with P5+1 and removal of sanctions, however banking problems is still one of the issues hindering bilateral interactions between the two countries.

US has still remained unilateral sanctions against Iran in place, which is one of the main hinders to development of trade ties, he said, adding US sanctions also affect South African banks.

“We are in talks with US Office of Foreign Assets Control to receive permits and solve the problem.”

“The US unilateral sanctions against Iran are illegal and we want those imposing sanctions on Oran to stop it.”

Iran and South Africa have agreed to increase the volume of bilateral transactions to over $2 billion by 2020, he said.

 

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