Australia
Trump’s Iran deal reversal increases uncertainty for Austria’s Oberbank
US President Donald Trump leaves after announcing his decision about the nuclear deal with Iran at the White House. Photo: AFP
One of the few European banks to have a credit deal with Iran said on Wednesday lending had been thrown into further doubt by the US withdrawal from a landmark nuclear agreement.
In September, Austria's Oberbank signed a framework agreement to finance Austrian investment projects in Iran's infrastructure, healthcare and plant construction sectors.
It was the first European lender to do so since sanctions were eased following the 2015 pact between Iran and world powers.
However, since then the bank has not extended any funding, citing legal uncertainty.
On Tuesday US President Donald Trump announced the US withdrawal from the “disastrous” agreement and the reimposition of sanctions on Iran.
Oberbank said it would have to wait for further details of the deal's future and the next US moves before deciding on whether it could ..
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