Zarif Emphasizes: We Do Not Seek Access to the U.S. Financial System

Mohammad Javad Zarif, Iran's Foreign Minister, stated that Tehran does not seek access to the U.S. financial system, but U.S. officials must assure other countries that they will not be penalized for trading with Iran. In an interview with the American newspaper The New York Times published on Wednesday, April 1, he emphasized that American officials should be more proactive in reassuring other countries about trading with Iran without facing penalties. Zarif said, 'We have never sought access to the U.S. financial system. What we want is the implementation of the nuclear agreement, and for this, the United States must allow European financial institutions to cooperate with Iran with peace of mind.' These remarks come a day after his meeting with U.S. counterpart John Kerry at the United Nations building in New York. The main topic of the meeting was how to implement the nuclear agreement, particularly addressing the issues that hinder Iran's benefits from this agreement. Zarif had previously stated that 'the JCPOA does not include American banks, but the issue is about the non-interference of the U.S. in the cooperation of other banks with Iran.' Following the nuclear agreement between Iran and global powers, many international sanctions related to the Republic's nuclear program were suspended or eased. However, the incomplete lifting of some of these sanctions and other existing sanctions against Iran has led many major financial institutions and banks worldwide to continue avoiding trade with Iran. Iran also does not have access to the U.S. financial system, including the use of the dollar in its international transactions. The head of Iran's Central Bank had previously warned that the continuation of this trend could lead to the collapse of the nuclear agreement. Zarif also told The New York Times that although the U.S. Treasury has taken steps toward implementing the nuclear agreement as the overseer of its sanctions against Iran, these actions are 'not enough.' Zarif emphasized, 'They must be more active in informing others that they will not be penalized by the U.S. for trading with Iran.'