Germany Denies Allowing Iran to Withdraw 300 Million Euros from Its Assets

On Wednesday, August 8, the German Ministry of Finance denied a report from a publication about allowing Iran to withdraw 300 million euros from its assets in the country's bank accounts. The U.S. government strongly opposes such an action. The German Ministry of Finance stated that Iran's request is under review and added, "Reports from newspapers regarding the clearance of these amounts through customs are incorrect. The review process has not yet been completed." The German weekly 'Die Zeit' reported on Wednesday that the security section of the German Ministry of Finance concluded that Iran's withdrawal of these amounts does not violate the country's anti-terrorism laws and there is no evidence to suggest that this money would fall into the hands of bad actors or groups. The U.S. has pressured the German government to reject Iran's request to withdraw this money from the Iran and Europe Trade Bank, as it may be used to finance armed groups in the Middle East. The U.S. Embassy in Germany stated this week that it expects the German government to prevent the withdrawal of this money according to new central bank regulations on money laundering that will take effect on August 25. 'Die Zeit' reported that the U.S. has threatened that if Iran's request is approved, it will impose sanctions against the German central bank. The U.S. has re-implemented the first wave of nuclear sanctions against Iran that were lifted under the JCPOA. Washington has urged all countries to stop buying oil from Iran by November and has threatened foreign companies with penalties if they engage in transactions with Iran. Iran claims that this cash is for its citizens traveling abroad, as they do not have access to credit cards commonly used in other countries. The change in central bank regulations allows the German government to demand detailed explanations regarding the final destination of the large withdrawn funds, which may lead to Iran's request being denied. Previously, the U.S. Embassy in Berlin welcomed what it described as the government's decision to prevent the transfer of Iranian funds from Germany to Tehran. In a statement released on Monday, the U.S. Embassy said, "We thank the German government for recognizing the necessity of stopping Iran's destructive actions."