Guidelines published last month by the Obama administration protect banks doing business with Iran from U.S. sanctions even if their transactions end up benefiting sanctioned entities, according to Secretary of State John Kerry. That stance, experts and congressional sources tell THE WEEKLY STANDARD, is part of an ongoing battle inside the Obama administration over efforts being spearheaded by Kerry to bolster Iran’s economy.
Kerry, who was speaking Monday at an event in London honoring both the secretary and Iranian foreign minister Javad Zarif for cementing the nuclear deal last summer that lifted many Iranian sanctions, said that the guidelines told banks they could safely do business in Iran with “no extra due diligence, just normal due diligence… [and] not be held accountable” if their transactions involved organizations like sanctioned parts of Iran’s military.
