US says banks won't be punished for lawful business in Iran

May 12, 2016 7:33 AM

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LONDON – U.S. Secretary of State John Kerry is reassuring European banks they won't be penalized for conducting or facilitating legitimate business with Iran.

Kerry and British Foreign Secretary Philip Hammond are meeting with key European bankers in London. They're working to clear up what Kerry says are misconceptions about U.S. sanctions on Iran that remain despite the nuclear deal with Tehran.

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