Tehran to withdraw 300 million Euros from Germany

Tehran intends to withdraw 300 million euros from the account in Germany in cash and send them by plane to Iran due to the restoration of US sanctions against Iran in the coming months, said the German tabloid Bild citing unnamed sources.

Earlier, German Foreign Minister Heiko Maas said that the world powers can not fully compensate for Iran’s losses, which Tehran can suffer after the US regains sanctions, RIA Novosti reported.

According to the publication, cash is needed in order to “transfer them to Iranian citizens who, due to lack of access to recognized credit cards during foreign trips, are transferred to cash in euros.”

It is reported that the European Iranian commercial bank holds a large amount of money belonging to the Iranian authorities, accounts are managed by the German Federal Bank. It is planned that the Bundesbank will withdraw 300 million euros and transfer money to representatives of the Iranian authorities. The Iranian aircraft will take them out of Germany.

Representatives of the German government confirmed the existence of such a plan. “The Federal Office of Financial Supervision of Germany (BaFin) has initiated an audit on this issue in the bank in accordance with the law on loans and countering money laundering,” – said the source Bild.

The plan is also well-informed by high-ranking representatives of the Chancellery, the Ministry of Foreign Affairs and the Ministry of Finance of the Federal Republic of Germany.

It is noted that the Iranian side is negotiated by a high-ranking representative of the Iranian central bank Ali Tarzali, who is under US sanctions. The publication notes that the US and Israeli special services are afraid that cash can be used to finance terrorism. In turn, the German special services do not have instructions that money is planned to be used for such purposes, the newspaper writes.

On Friday in Vienna, a ministerial meeting of the countries participating in the Iranian nuclear deal was held.

In 2015, Iran and the six international mediators (Russia, the United States, Britain, China, France, Germany) reached a historic agreement on the settlement of the long-standing problem of Iranian nuclear energy: the Joint Comprehensive Plan of Action (JCAP) was adopted, which removes economic and financial sanctions of the UN Security Council, the United States and the European Union.

President of the United States Donald Trump announced on May 8 that Washington is withdrawing from the agreement with Iran on the nuclear program. Trump reported on the restoration of all sanctions against Iran, including secondary ones, that is, against other countries that conduct business with Iran. The other members of the “Six” opposed this step of the United States. The European partners of Washington stated that they intend to continue to observe the terms of the deal with Iran.

The EU is trying to save its interest in Iran. EU will change the mandate of the European Investment Bank for loans to Iran under sanctions.

Representatives of the “eurothree” proposed to create forms of trade independent of the dollar with Iran.

The joint commission for the Joint Comprehensive Action Plan (JCAP) on Friday reported that the EU is expanding the mandate of the European Investment Bank for lending to Iran under US sanctions, the commission said in a statement.

“The participants notified that they are in the process of updating the EU’s” blocking law “in order to protect companies of EU member states and update the mandate of the European Investment Bank for external borrowing to include Iran,” the statement said.

Earlier in May, the EU, responding to the US decision to resume sanctions against Iran, decided to respond to US unilateral steps and protect its enterprises by launching a 1996 “blocking law”.

The so-called “blocking law” was adopted in 1996 during the conflict over US sanctions against Cuba, Iran and Libya, which could affect European companies. For more than 20 years, the legislative act remained unclaimed, as the conflict with Washington was then settled.

On May 8, US President Donald Trump announced the withdrawal from the JCAP and the restoration of unilateral sanctions against Iran in full. After that, the Iranian side stated that it agreed to remain in the JCAP only if the other partners, without the United States, can ensure the fulfillment of all obligations under the agreement, in particular, in the sphere of economy. The Iranian leadership was warned that if compliance with the parameters of the JCAP becomes unprofitable, Tehran will withdraw from the agreement.