The UK says its companies are eager to enter Iran while the British government is trying to facilitate banking transactions with Tehran.
Lord Norman Lamont, UK's trade envoy to Iran and chairman of the British-Iranian Chamber of Commerce, said London is closely working with the representatives of the US Treasury to remove the obstacles that hinder banking transactions with Iran.
Lord Lamont emphasized that this is being carried out in line with previous discussions with US Secretary of State John Kerry.
Meeting with Iran Chamber of Commerce President Gholam Hossein Shafei he further added that the British companies are eager to enter Iran now that the sanctions against the country have been removed.
“The British Airways flights to Tehran have been resumed and major companies like BP, Jaguar and Rolls-Royce have started their negotiations with Tehran to start their joint ventures with Iranian partners,” he said.
Lord Lamont further insisted that the situation is going to improve and that the British and European banking representatives are working to receive necessary guarantees from the US for working with Iran.
Iran Chamber of Commerce President Gholam Hossein Shafei recounted the ongoing obstacles for boosting trade between the two countries saying that trade relations with the UK would be impossible without “effective” banking relations.
Iran Chamber of Commerce president said that European banks “remain wary of the impacts of the remaining US sanctions against Iran”.
Shafei further asked for ending crackdown on trade of dual-use items, facilitation of visa issuance to Iranian businessmen and ease of insurance procedures.
Iran has been persistently urging European countries to take the required measures to encourage their banks to facilitate transactions with Tehran now that the sanctions have been removed.
However, the country’s plea appears to have fallen on deaf ears so far.
Reports earlier said the banks want a promise that the US will not prosecute or punish them for transactions involving Iran — a step the US has so far been reluctant to take.
In May, US Secretary of State John Kerry told a meeting of top EU bankers that they will not be penalized for conducting or facilitating business with Iran.
However, European banks have already emphasized that Kerry’s assurances are not enough and a series of confusions that remain over transactions with Iran need to be cleared by Washington.