Collateral damage: How Iran sanctions fears hurt humanitarian trade
LONDON/ANKARA (Reuters) - It should have been a routine delivery of vegetable oil to Iran for making margarine; instead the tanker spent months in the Gulf as banks held up payment for the cargo, fearing they would run foul of international sanctions. The sanctions regime, imposed by the United States and European Union over Tehran's nuclear program, permits trade in humanitarian goods such as food and pharmaceuticals. Yet many banks are steering clear of financing any deals with Iran due to a series of fines handed out by U.S. authorities ...
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