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CBI Governor: EIH Bank to Continue Financial Undertakings

Service : Economy
TEHRAN, April 6 (ICANA) – Iran Central Bank (CBI) Governor Mahmoud Bahmani stressed that Tehran owns the German-based Europaisch-Iranische Handelsbank (EIH Bank) and the Bank will continue its financial transactions and undertakings despite the pressures imposed by the US.
Wednesday, April 06, 2011 1:54:27 PM
CBI Governor: EIH Bank to Continue Financial Undertakings

"It is not a German bank, rather it is an Iran-Europe joint bank which is active in Germany," Bahmani told FNA on Wednesday.

"The bank has not encountered any specific problem yet and already fulfilled its commitments and undertakings and will continue to do so," Bahmani stated.

The comments by the Iranian official came after media reports said that India has agreed to stop funneling payments for Iranian oil through banks in Germany in a move Berlin hopes will ease US pressure.

India had on February 3 decided to pay for the Iranian oil using euros through the EIH Bank.

The US has campaigned behind closed doors to end an arrangement it deemed in breach of UN sanctions intended to stop Iran's nuclear program.

Although the US blacklisted Europaisch-Iranische Handelsbank late last year, Berlin said it had no evidence linking the bank to Iran's nuclear program or breach of sanctions.

The US says EIH provides financial services to four other banks already under EU and US sanctions, as well as serving as one of Iran's access points to Europe's financial system.

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