Iran pursues HSBC trade transactions

Iran is lobbying to get HSBC to process its humanitarian trade transactions, which the bank froze due to the scope of international sanctions.

Although the country did obtain some sanction relief last November after agreeing to downsize its nuclear program, banks are growing increasingly worried over stepping out of line.

The move follows a potential $9B fine imposed on BNP Paribas, which is being investigated for avoiding sanctions between 2002 and 2009.

Sanctions on the Islamic Republic never included food or humanitarian goods, although the EU and U.S. have made payment, shipping and transactions harder to process in the last two years.

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