KAVIR Motor | U.S., Europeans promise to clarify doing business with Iran

U.S., Europeans promise to clarify doing business with Iran

U.S., Europeans promise to clarify doing business with Iran

The United States and European powers will work to clear up any confusion companies may have about doing business with Iran following Tehran's acceptance of a deal to curb its nuclear program, the countries said in a statement on Thursday, May 19, 2016.

“We will not stand in the way of permitted business activity with Iran, and we will not stand in the way of international firms or financial institutions engaging with Iran as long as they follow all applicable laws," the United States, France, Germany and Britain said in a statement.

"Firms may continue to have specific sanctions-related questions or concerns about doing business in Iran, and we stand ready to provide expeditious clarifications," the statement said.

Under the Iran nuclear deal, Tehran agreed to curtail its nuclear program in exchange for the European Union and the United States lifting economic and financial sanctions imposed to punish it for its enrichment efforts.

John Kerry, US Ministry of Foreign Affairs told reporters in this regard:

"Banks in Europe are allowed to open accounts for Iran; banks in Europe are allowed to do business; banks in Europe can fund programs, lend money," "That's absolutely open for business as long as it's not a designated entity. Period. Very simple."

"It is in our interest and the interest of the international community to ensure the (nuclear deal) works for all participants, including by delivering benefits to the Iranian people," the statement said. "This includes the re-engagement of European banks and businesses in Iran."

"For Iran to realize the economic improvement it desires, it will also have to take steps to create an environment conducive to international investment," the statement said.