61 Days
Source:
اقتصاد
Iranian bank branch in Germany fails after payment disconnection
The Federal Financial Supervisory Authority in Germany has confirmed the bankruptcy of Iran's Bank Sabe branch in Frankfurt, which was directly impacted by European sanctions that prevented access to the European payment system, resulting in the bank's inability to settle customer deposits. The branch's assets amount to approximately 50 million euros and include 11 depositors. It is not systemically significant and does not pose a threat to financial stability in Germany. This bankruptcy exemplifies the impact of financial sanctions on the limited presence of Iranian banks in Europe, which has significantly diminished since restrictions were imposed on their financial transactions.
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