Home inContext European Banks Divesting from Iran

European Banks Divesting from Iran

Jonathan Schanzer

Amidst a US-led campaign to isolate Iran over its nuclear program, Europan banks including Switzerland’s UBS and Germany’s Deutsche Bank have cut ties with Iran, according to Gulfinthemedia.com.

Iranian central bank Governor Tahmasb Mazaheri expressed anger over the decision, but stated that Iran, the world’s fourth-largest oil producer with a population of 70 million, could not force them to stay.

For more on Treasury’s offensive, see the inFocus interview with Treasury Undersecretary Stuart Levey.

For more on divestment at the state level, click here.