“We have suspended any new transaction related to Iran after May 8, 2018 and started the ‘wind down period’ within the framework of OFAC announcement,” BCP said in an emailed statement to the Reuters news agency, referring to the US Treasury’s sanctions enforcement arm. Founded in 1963, BCP has its headquarters in Geneva.
Trump’s decision came with the re-imposition of US sanctions within 180 days. This has prompted several European companies to wind down business in Iran. For example, German lender DZ Bank is planning to halt financial transactions with Iran in July.
Sanctions extend to any company that conducts business in Iran, which have been given notice by Washington to scale down activities.
University of Lausanne calls for end to pro-Palestine sit-in
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The pro-Palestinian occupation continues at the University of Lausanne (UNIL). On Monday evening, a group of students refused to agree to the deadline set by the rectorate.
Ukraine peace conference should include Russia, says Chinese ambassador
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China supports a peace conference on the Ukraine war that would see equal participation of all parties, says Chinese Ambassador to Russia Zhang Hanhui.
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A majority of Swiss citizens have open attitudes towards various infertility treatments, including even egg donation, which is currently prohibited.
Reports of Swiss cyber fraud almost doubled in six months
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The head of the new Federal Office for Cybersecurity (FOC), Florian Schütz, has presented a new strategy after just over four months in office.
Ecological status of Swiss streams insufficient according to study
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Pesticide use and obstructions of waterways have a particularly negative impact on sensitive organisms, completely absent in 70% of streams analysed.
Train line between Brig and Domodossola interrupted
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One day after a derailment approximately 15 kilometres from the Swiss border, BLS is running buses for passengers between Preglia and Domodossola, in Italy.
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Swiss firms in Iran fear US sanctions
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Several Swiss newspapers on Sunday reported that Swiss firms in Iran have stopped making new business contracts two weeks ago. Sharif Nezam-Mafi, chairman of the Swiss-Iranian chamber of commerceExternal link, is quoted as saying several Swiss firms were about to close their subsidiaries in Iran. He apparently met representatives of major Swiss companies in Tehran…
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Earlier this week, US President Donald Trump said he was pulling out of the Iran nuclear deal and would re-impose economic sanctions against the Middle East country. Sanctions extend to any company that conducts business in Iran, which have been given notice by the US to wind down activities. Exports from Switzerland to Iran rose…
Swiss invitation to Iranian president remains open
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The Swiss Foreign Minister says Iranian President Hassan Rohani is still invited to visit,
amidst concern at the US pullout from a nuclear deal with Tehran.
Swiss still respect Iran nuclear deal despite US withdrawal
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Switzerland is concerned about the potential consequences of the United States dropping out of the international nuclear deal with Iran.
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If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.