With certain sanctions over Iran being suspended from a nuclear technology perspective, if not terminated, the result is a deep plunge in oil prices within the middle east equities market, and the worst affected being Saudi Arabia.
But the lifting of Iran’s sanctions marks an important moment, while western diplomats point out there are plenty of issues where Iran’s behavior is questionable, from its human rights record, to its many executions, to its role of fueling regional conflicts.
However one must note that US has imposed fresh sanctions over certain Iranian companies and individuals over a recent ballistic missile test.
The new sanctions prevent 11 entities and individuals linked to the missile program from using the US banking system.
Hence, financial institutions and banks should fine tune their systems with these exact details within their sanctions and transaction monitoring systems.