NZ exports to Iran held back as banks fear hefty penalties

Tue, 13 Sep 2016

By Tina Morrison Sept. 14 (BusinessDesk) - New Zealand's export trade with Iran hasn't picked up as hoped following the lifting of sanctions in February because the country's banks are wary of potential fines or exclusions from the US banking system should they fall foul of a quagmire of regulations and restrictions. Along with other Western countries, New Zealand lifted sanctions against Iran in February after the country agreed to roll back its nuclear ambitions. However, New Zealand's export trade to the Middle East's second-largest ec...

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