Iran-Deal - Austrian Oberbank Distances Itself from Framework Credit Agreement with Tehran

Published: May 11, 2018; 11:30 · (Vindobona)

Only last year, the Upper Austrian Oberbank was the first European bank to sign a framework credit agreement with Iran. After the USA's withdrawal from the nuclear treaty, the bank is now under pressure and intends to wait and see. The bank says it could certainly take two weeks for a final solution to be found and officially agreed.

(from left to right): Deputy Governor Michael Strugl, Deputy Minister of Finance Mohammad Khazaee, Deputy Governor of the Central Bank of Iran, Ahmad Araghchi, Oberbank CEO Franz Gasselsberger, Iranian Ambassador to Austria, Ebadollah Molaei / Picture: © Oberbank AG

In September last year, Oberbank was the first European bank to sign a framework credit agreement with Iran.

Dr. Franz Gasselsberger, CEO of Oberbank, was visibly pleased: "We are proud to be the first European bank to conclude the framework agreement after one and a half years of intensive negotiations. We have numerous projects from our customers in the pipeline that can…

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