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European Bank Chiefs Assured by Kerry Iran Business Is Possible

  • Group of top bankers meet U.S. Secretary of State in London
  • Gap exists between political commitment and banking `reality'

The biggest European banks, nervy of doing deals in Iran for fear of breaking laws, are free to pursue “legitimate business” there in the wake of a deal that lifted many sanctions on the country, U.S. Secretary of State John Kerry said.

“There has been a reluctance in some places to take risk,” Kerry told a group of bankers including Deutsche Bank AG Co-Chief Executive Officer John Cryan at a meeting in London Thursday, according to remarks published on the U.S. State Department website. “We want to make it clear that legitimate business, which is clear under the definition of the agreement, is available to banks.”