‘Iranian businessmen cooperate with Belarusian banks’

March 7, The Iran Project – Belarus bank of Trade and Investment has expressed its readiness to provide banking services to Iranian businessmen.

Services offered by the Belarusian Bank reportedly include opening import and export letters of credit (LC) and related services, issuing letters of exchange, transferring resources in the countries of the CIS, and opening a current account.

Trade and Investment bank also provides the Iranian businessmen with the management of credit lines (refinance) and the issuance of foreign currency remittances between Iran and Belarus.

Although after Iran’s signing the nuclear deal with the world powers, Tehran has had a good commercial relation with other countries, there are still many obstacles that need to be overcome for the country’s banking cooperation.

So, this can be considered a positive measure of the Belarusian Bank to start banking cooperation between the two countries for providing services to Iranian and Belarusian merchants.

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.

Analysts have already emphasized that the banks remain wary of the impacts of the remaining American sanctions against Iran, specifically those that address banking transactions with the country.

In this regard, President Hassan Rouhani said on February 11 that the European Union should buttress the bloc’s banking relations with Iran so as to optimize the opportunities provided by the country’s 2015 nuclear deal with Tehran.