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European companies flocking back to Iran are doing so without their favored lenders at their side. Less than two years after BNP Paribas SA agreed to pay a record $9 billion U.S. fine in part for dealings with Iran, many of the continent's biggest banks remain unwilling to go anywhere near Iran-related business for fear that they will run afoul of remaining U.S. sanctions on the country. France's Societe Generale SA, Germany's Deutsche Bank AG, Zurich-based Credit Suisse Group AG, ING Groep NV in the Netherlands and the U.K.'s Standard Chartered PLC are among the big European banks that say they're generally not prepared to do business in Iran yet.Iranian officials are pushing the U.S. to reassure banks on doing business with Iran. Iranian Central Bank Governor Valiollah Seif told Bloomberg Television last month that the U.S. Treasury's OFAC should issue guidelines encouraging European banks to be more receptive to Iran. While French businesses this year have pledged more than $30 billion of investments in Iran, it remains unclear how recent business agreements will get bank funding.
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