Iran calls for the removal of banking restrictions

The one-day conference came to an end in the British capital on Thursday night.

The Iranian officials also urged the Western parties to remain committed to their pledges under a nuclear deal they reached with Iran last year, known as the Joint Comprehensive Plan of Action (JCPOA).

Governor of Central Bank of Iran (CBI) Valiollah Seif told the conference, also attended by senior banking and financial officials from the European Union and the UK, that the West should take steps to facilitate Iran's return to global economy.

The negotiating parties in Iran nuclear talks were well aware of the banking restrictions, Seif said, adding, they have a moral duty to honor their commitments under the deal now.

Despite the implementation of the JCPOA, the fear from breaching the remaining sanctions, the existence of red tape and obstacles on the way of trading with Iran in dollar have hindered major banks from business with Iran, Seif said.

Despite assurances from the US, major banks have still remained cautious over fines incurred for sanctions breaches, the official added.

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