Germany says EU sanctions on Iran not affecting EIH bank
The German government has denied that it is pulling the plug on the Hamburg-based European-Iranian Trade Bank, aka EIH Bank (Europaeisch- Iranische Handelsbank), in line with European Union’s financial sanctions against Tehran.
"EIH is under particularly strict regulatory control, which cannot be compared to any other German financial institution," wrote a spokeswoman for Chancellor Angela Merkel's administration in an email to The Jerusalem Post, which was published on Saturday.
She added, “the EU sanctions against Iran do not at this time list EIH" as a prohibited Iranian entity.
Her remarks came in response to last week’s allegations by Israel’s ambassador to Berlin, Yoram Ben-Ze'ev, who said during a conference that “there are some legal issues that need to be resolved, allowing the bank to be closed shortly.”
Rejecting pressures from the Israel and the United States to end EIH Bank’s activities in Iran, Jeanette Schwamberger, a spokeswoman for the German Finance Ministry, said, "There is no German sanctions list; rather the European Council must decide within the framework of the EU sanction's mechanisms. We are not aware of any such decision of the European Council."
EIH Bank conducts financial transactions for mid-level German businesses active in Iran.
At the beginning of 2012, the US and European Union imposed sanctions on Iran’s oil and financial sectors to prevent other countries from purchasing Iranian oil and conducting transactions with Iranian banks, including the Central Bank of Iran.
The sanctions were imposed over allegations about possible diversion in Iran's nuclear program toward military objectives. Iran has categorically rejected the allegation, noting that its civilian nuclear program is only meant for peaceful purposes.
After eight days of marathon talks, Iran and the six members of the P5+1 group – the US, France, Britain, Russia, China, and Germany – reached a mutual understanding on the Islamic Republic’s nuclear program in the Swiss city of Lausanne on April 2.
The two sides are expected to start drafting a final accord on the issue which is expected to come until the end of June 2015.
Many countries and international organizations have hailed the Iran-P5+1 statement, with some calling it a big victory for proponents of diplomacy across the world.
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