Germany considers Iranian bid to withdraw 300 million euros cash

German authorities are considering a request by Iran to withdraw 300 million euros from bank accounts held in Germany and transfer the cash to Iran, Bild newspaper reported Monday, citing unnamed government officials.

Tehran is seeking withdraw the funds from the Europaeisch-Iranische Handelsbank AG (eihbank) because it is worried that it could run out of cash when fresh U.S. sanctions against its financial sector take effect, Bild said.

Washington has announced new sanctions on Iran and ordered all countries to stop buying Iranian oil by November and foreign firms to stop doing business there or face U.S. blacklists.

One of the world’s biggest shipping lines, France’s CMA CGM, announced on Saturday it was pulling out of Iran for fear of becoming entangled in U.S. sanctions after U.S. President Donald Trump abandoned the 2015 nuclear agreement in May.

Source » reuters

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