Turkish bank to circumvent US sanctions

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Tasnim, the Iranian agency, revealed Turkey’s intention to help Iran to circumvent the sanctions imposed by the United States on the Iranian regime.
“The two countries plan to establish a joint bank soon to circumvent US sanctions,” the agency said.

US President Donald Trump withdrew last May from the international nuclear deal with Iran and announced new economic sanctions that went into effect last August.

Washington is pressing its allies not to circumvent sanctions, knowing it will impose a new round of sanctions on Tehran’s oil sales in November.

Turkey has helped Iran to circumvent the international sanctions imposed on Tehran, before being canceled after the nuclear agreement between the major powers in 2015.

Turkey seems to be working on the same path, especially as its rapprochement with Iran and tensions with the United States have increased following sanctions imposed by Washington over Ankara’s arrest of the American priest.

Kessel said in an article: “The two countries plan to establish a joint bank soon,” stressing that “this action aims to strengthen economic relations between Tehran and Ankara.”

“The establishment of a joint bank through which the two sides will trade without the need for the dollar is a final step to strengthen Iran-Turkey economic relations,” he added.

“The idea of ​​establishing a joint bank should be taken seriously, because this decision will limit the impact of US sanctions against Iran on Turkish foreign trade,” he said.

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