Iran attracts $7B of foreign investment after sanctions lift

EghtesadOnline: Since the implementation of the JCPOA, Iran has succeeded in attracting $7 billion of investment from abroad, according to Ahmad Jamali, CEO of Foreign Investment Organization.

News ID: ۷۳۷۲۷۳

01 October 2016

We have no problem for transferring money, he said on the background of world banks’ hesitation to start relations with Iran after the country’s freedom from sanctions, reports ILNA.

The banks and exchange houses that carried out the $7 billion transfer came mostly from Germany, Italy, and the UAE, he noted.

However, he admitted that Iran is usually working with small banks in the post-sanctions period as big world banks are still reluctant to approach Iran.

Sanctions on Iran were removed in January following the implementation of the nuclear deal, JCPOA.

However, the memory of US Treasury punishments and a remaining set of primary US sanctions continue to discourage foreign banks and companies from doing business with Iran.