“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.
Swiss authorities announce cost-cutting in asylum sector
This content was published on
The government notably wants to improve integration into the labour force, particularly for people with protection status S.
Various leaders confirm participation at Ukraine peace conference
This content was published on
The presidents of Poland, Finland, and Latvia and the prime ministers of Spain and Belgium will be at the Swiss-hosted talks in mid-June.
This content was published on
In the winter season up to April 2024, railway and cable car operators ferried 3% more visitors compared to the previous winter, and 5% more than the five-year average.
Rhine flooding: Swiss to invest CHF1 billion with Austria
This content was published on
As part of an international agreement with Austria, the Swiss government wants to pump CHF1 billion ($1.1 billion) into flood protection measures along the Rhine over the next three decades.
Swiss government proposes CHF10 million UNRWA donation
This content was published on
After months of debate, Switzerland plans to give CHF10 million ($11 million) to the UN agency this year, rather than the CHF20 million initially foreseen.
Swiss study: insects mainly migrate at midday and dusk
This content was published on
A study led by the Swiss Ornithological Institute in canton Lucerne is helping to better understand the movement patterns of migratory insects.
Red Cross: 22 staff killed in Middle East since October
This content was published on
The Red Cross and Red Crescent network in Gaza and Israel has lost 22 staff members since last October, the Swiss Red Cross (SRC) said on Wednesday.
Dortmund’s Kobel is first Swiss goalie in Champions League final
This content was published on
Borussia Dortmund’s Gregor Kobel has achieved history by becoming the first Swiss goalkeeper to reach a Champion’s League final.
University students in Switzerland join Gaza protest wave
This content was published on
Pro-Palestinian activists occupied university buildings in Lausanne, Geneva and Zurich on Tuesday, widening the protest movement in the Alpine nation.
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.