“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.
Train vs plane: would you take a direct train between London and Geneva?
Eurostar is planning to run direct trains from Britain to Germany and Switzerland from the early 2030s. Would you favour the train over the plane? If not, why not?
Swiss watch industry calls for ‘clear solution’ with US
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Federation of the Watch Industry calls for clear solution to tariff threat and a swift agreement between Bern and Washington.
Swiss youngsters illegally obtain alcohol in a quarter of test purchases
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In a quarter of all alcohol test purchases last year, young people in Switzerland were able to obtain beer, wine or spirits illegally.
Swiss storm damage more frequent and more expensive
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Storm damage has increased by 126% in the last ten years. Costs have risen by 133% in the same period, according to Helvetia Insurance.
Switzerland plans to tighten S-status permits for Ukrainians
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Swiss S-status refugee permits should only be granted to Ukrainian regions where life and limb are concretely threatened.
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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.