European business bodies form alliance for Iran gold rush

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Sooner rather than later, sanctions on Iran are going to be lifted and European companies will be free to export and trade with the Middle East’s largest country. Experts have long predicted that there will be a two-way explosion of trade when this takes place, but there is also evidence of a jockeying of position between US and European companies, and the Europeans remain restricted by the reluctance of many EU banks to handle trade payments for goods destined for Iran. “To remove this hurdle, EU countries should nominate banks that can be tasked with handling trade with Iran”.