Italian UniCredit bank in talks with US over sanction exemption

Young journalists club

News ID: 27149
Iran » Iran
Publish Date: 17:20 - 08 August 2018
TEHRAN, August 8 - Italian UniCredit expects to strike an agreement with the White House in a dispute over alleged violation to the US sanctions against Iran over the next months, the Italian bank’s CEO Jean Pierre Mustier said.

Italian UniCredit bank in talks with US over sanction exemptionTEHRAN, Young Journalists Club (YJC) - The lender was subpoenaed in 2011 by the New York authorities on the grounds of a series past transactions, involving Iranian firms.

The US Department of Justice started to investigate the matter, examining how far the measures introduced by the Treasury’s Department’s Office of Foreign Assets Control were observed.

Italy’s largest bank said that it would conduct its own internal investigation to assess past US dollar payments and its respect of the US imposed sanctions against Iran.

“We are confident we can reach an agreement with the U.S. before the end of the year,” Mustier said in a conference call on the company’s second-quarter results.

Source: Globe and Mail

 

Tags
iran ، italy ، US ، sanctions ، bank
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