BERLIN (AP) — Even though Iran has rescinded a request to repatriate 300 million euros ($347 million) it has in a Hamburg-based bank, German authorities say financial regulators are still examining the proposed transaction.
Finance Ministry spokesman Steffen Hebestreit said Wednesday financial regulator Bafin is still examining whether regulations on money laundering and terrorism financing were being followed.
Bafin confirmed the investigation but wouldn’t comment further.
The U.S. had been pressuring German authorities to reject Iran’s request to transfer the cash from the European-Iranian Trade Bank, over concerns of how it would be used.
Most Read Business Stories
- Apple warns of security flaw for iPhones, iPads and Macs
- Gravity Payments CEO Dan Price resigns
- Home appraised with a Black owner: $472,000. With a white owner? $750,000
- Truck drivers for Seattle sandwich maker Homegrown asked for a raise, then came the cameras
- Why buying an electric car just became more complicated
Though the request has been dropped, a new one could be made.
Germany’s Bundesbank last month changed its conditions allowing it to block transfers unless it receives assurances a transaction doesn’t violate financial sanctions or money-laundering rules.