Germany lifts sanctions from Bank of Industry & Mine, Iran-Europe Bank

Tehran, Jan 20, IRNA – Managing director of Bank of Industry and Mine Bank said that German Deutsche Bundesbank in an official message announced removal of all sanctions from Bank of industry and Mine and Iran-Europe banks.

According to Bank of Industry and Mine website, Ali Ashraf Afkhami added that concurrent with the implementation of Joint Comprehensive Plan of Action (JCPOA), Deutsche Bundesbank resumed its cooperation with the Iranian banks.

Following release of a report by the International Atomic Energy Agency (IAEA) on Iran's abidance by its nuclear commitments regarding JCPOA, the opposing party (Group 5+1) started lifting anti-Iran sanctions.

Based on JCPOA which was finalized on January 13, anti-Iran sanctions should be removed in return for Tehran's reduction of certain nuclear activities.

The German bank has also hoped that cooperation with these two Iranian banks will be resumed at higher levels.

Bank of Industry and Mine hosted a high-ranking delegation from Germany in May.

Bank of Industry and Mine holds 53 percent of shares of Iran-Europe Bank which is based in Hamburg.