US allows South Korea to do Iran trade in euros

The data was added on , 2 August 2016 read 627 times.

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South Korean companies will be able to carry out business with Iran in euros as early as next month, enabling the Asian country to cash in on new opportunities from lifting of sanctions on Tehran.

Financial transactions are currently conducted in the local won currency between the two countries because US sanctions prohibit dollar-based trade with Iran.

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