|
Trending Topics
|
Global Traders Halt New Iran Food Deals as U.S. Sanctions Bite
(Reuters) Jonathan Saul and Parisa Hafezi - Global traders have halted food supply deals with Iran because new U.S. sanctions have paralyzed banking systems required to secure payments. Food, medicine and other humanitarian supplies are exempt from sanctions. But U.S. measures have deterred many foreign banks from all Iranian business. Many smaller banks that had dealt with Iran during previous sanctions have also stopped dealings this time. "There is no real chance of being paid using the existing mechanisms and many international traders are unable to do new business for the moment," said one European source.