Zarif: No Major European Bank Has Started Transactions with Iran

Mohammad Javad Zarif, Iran's Foreign Minister, stated on Friday that eight months after the nuclear agreement, no major European bank has been willing to begin cooperation with Iran due to concerns over U.S. punitive actions. Speaking at the Council on Foreign Relations in the U.S., Zarif responded to a question about the nuclear agreement between Iran and six global powers last year and Iran's criticism of the U.S. approach, saying, 'We tried to keep these negotiations and the agreement strictly about the nuclear issue. A mistake many in the U.S. make is thinking this agreement should solve all problems between Iran and the U.S.' Zarif added that according to the nuclear agreement, Iran's commitments must be verified by the International Atomic Energy Agency (IAEA), which has done so without U.S. objections so far. He emphasized that while the U.S. has fulfilled its obligations regarding the signing of this agreement by the President and Secretary of State, the international effort to implement this agreement remains challenging. Zarif cited the example of major European banks like HSBC, which were fined billions by the U.S. for cooperating with Iran during sanctions. He noted that HSBC was so concerned that it hired Stuart Levey, a former U.S. Treasury official. Zarif stressed that the complexities posed by the U.S. Office of Foreign Assets Control (OFAC) regarding transactions with Iran have led banks to avoid relations with Iran. He stated, 'Eight months after the nuclear agreement, no major European bank has begun transactions with Iran, and this is a flaw.' The implementation of the nuclear agreement, known as the Joint Comprehensive Plan of Action (JCPOA), began last December. In this context, Iranian President Hassan Rouhani stated yesterday, 'In the meeting of the Joint Commission overseeing the implementation of the JCPOA, everyone told the U.S. that the actions you are taking do not conform to the JCPOA, and the U.S. promised to correct this process.' Rouhani used terms like 'disruption in banking affairs' and some 'delays and negligence' to describe U.S. actions. During the same meeting, the host asked Zarif about Donald Trump's remarks regarding the response to Iranian boats approaching U.S. warships. Zarif said, 'Our soldiers and sailors are only a few miles from our shores, while U.S. forces are thousands of miles from your shores. When our boats tell them to be careful not to violate our territorial waters, they get upset.' He added, 'We do not have a romantic relationship with the U.S. We have had problems with the U.S. for 40 years. Consider a warship or an aircraft carrier approaching your waters. We are not talking about the Gulf of Mexico or anywhere else.' Zarif stated that he spoke with military officials who confirmed that no Iranian ship has come within a hundred meters of U.S. vessels. He added, 'Our rule of engagement is that no Iranian ship approaches within a thousand meters of a U.S. or foreign ship.' Zarif emphasized, 'We have no interest in provocative approaches toward the U.S. (in the Persian Gulf).' Regarding Trump's remarks, he said, 'I do not want to comment on U.S. domestic politics.' Trump stated on September 9 that if he wins the presidential election, any Iranian fast boat that harasses U.S. destroyers in the Persian Gulf will be targeted. In the past month, several serious incidents have occurred involving confrontations between Iranian fast boats and U.S. military destroyers and patrols in the Persian Gulf.