Despite Compliance By Iran, US Still Blocking Legal Iranian Financial Deals

US Secretary of State John Kerry, left, meets with Iranian Foreign Minister Mohammad Javad Zarif at United Nations headquarters. Iran sits down with the United States, Russia, Europeans and key Arab states for the first time since the Syrian civil war began to discuss the future of the war-torn country. It will also break ground by bringing President Bashar Assad’s main supporter, Iran, to the same table as its regional rivals, including Turkey and Saudi Arabia, who have been backing many of the insurgent groups. (AP Photo/Craig Ruttle)

US Secretary of State John Kerry, left, meets with Iranian Foreign Minister Mohammad Javad Zarif at United Nations headquarters. (AP Photo/Craig Ruttle)

Just weeks after the US denied allegations it was deterring foreign banks from doing business with Iran, the State Department today sought to assure Congress that they are very much barring Iran from accessing the US dominated financial system.

Undersecretary Thomas Shannon insisted that the “rumors” that Iran was free to make transactions in US dollars with the elimination of the nuclear sanctions was not true, and that there were no plans to allow Iran to do so.

The White House also issued a statement today assuring Congress that they will not allow foreign banks to access the US financial system related to facilitating any trade involving Iran.

This all amounts to an admission that the US sanctions relief from the P5+1 deal was, as described by Ayatollah Ali Khamenei, largely “on paper,” and that it is extremely disingenuous of the administration to deny any responsibility in Iran’s difficulty in conducting business transactions which are now perfectly legal under international law.

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