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Iran Says European Banks May Handle Some Oil Payments

Iran will probably use European banks to handle some payments for its crude exports once a deal with world powers relating to the nation’s nuclear program starts, said a deputy oil minister from the Persian Gulf state.

“The arrangement is that it will be four to five banks and there certainly will be European banks too,” Ali Majedi, deputy oil minister for international and commercial affairs, said in an interview in Tehran on Dec. 18.