“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.
Related Stories
Popular Stories
More
Swiss Politics
Switzerland triggers unprecedented special status for Ukrainian refugees
Trump tariffs: Swiss brands struggle to adapt to 39% tariff
This content was published on
Swiss brands like Victorinox, the manufacturer of the iconic pocket knife, are struggling to adapt to the 39% tariff imposed by the United States on imports of Swiss goods.
Fish and aquatic plants are under ‘severe pressure’ in Swiss rivers and lakes
This content was published on
Fish, aquatic plants and other animals in Swiss rivers, lakes and streams remain under 'severe pressure', according to the Federal Office for the Environment.
Swatch withdraws ‘slanted eyes’ ad after China uproar
This content was published on
The Swiss watch manufacturer Swatch has apologised and withdrawn an advertising campaign worldwide following accusations of racism in China. The ad features a model pulling the corners of his eyes.
Police identify bodies of three climbers who died in Swiss Alps
This content was published on
Police have formally identified the bodies of three climbers who died in the Upper Valais region in early August: they are from Germany, France and Austria.
Bern exhibition reunites Kirchner paintings after 92 years
This content was published on
The painting Sonntag der Bergbauern (Alpsonntag) [Sunday of the Mountain Farmers (Alp Sunday) by Ernst Ludwig Kirchner (1880-1938) is being transferred from Berlin to Bern to feature in an upcoming exhibition at Kunstmuseum Bern.
Voters approve extension of Engadine Airport in Switzerland
This content was published on
Residents in the Upper Engadine region gave the greenlight on Sunday to the expansion of the regional airport at Samedan, one of Europe’s highest airports (1,707 metres) that serves the nearby resorts of St Moritz and Davos.
Private equity group Advent to buy U-Blox for $1.3 billion
This content was published on
Private equity group Advent International has agreed to take over Switzerland's U-Blox Holding in a cash offer worth CHF1.05 billion ($1.30 billion).
Trump made direct financial demands during call with Swiss president
This content was published on
During the telephone call between Karin Keller-Sutter and Donald Trump on July 31, Trump demanded direct payments from Switzerland, according to an investigation by SonntagsBlick.
Demonstrators in Swiss capital demand better access to mental health care
This content was published on
Thousands of people demonstrated in Berne on Saturday afternoon against long waiting lists, the lack of therapy places and the absence of a clear pricing structure.
This content was published on
Swiss companies' expectations for salary growth are down by 0.3 percentage points compared to a year ago, according to a survey conducted by the Center for Economic Research (KOF).
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.
Read more
More
Swiss firms in Iran fear US sanctions
This content was published on
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…
This content was published on
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
This content was published on
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
This content was published on
Switzerland is concerned about the potential consequences of the United States dropping out of the international nuclear deal with Iran.
You can find an overview of ongoing debates with our journalists here . Please join us!
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.