U.S. Treasury official: companies not trying to enter Iranian market

Reuters News
Posted: Apr 02, 2014 2:47 PM

WASHINGTON (Reuters) - The top U.S. Treasury Department official responsible for sanctions said on Wednesday he had not seen any evidence of companies trying to take advantage of a preliminary nuclear agreement with Iran to enter the Iranian market.

"We have not seen companies anywhere - Europe, The Gulf, Asia - trying to take advantage of this ... narrow opening, the quite limited suspension of the sanctions to get into the Iranian market," Treasury Under Secretary David Cohen said at a U.S. Senate hearing.

Cohen noted that authorities estimated when the preliminary agreement was reached that the sanctions relief would be worth $6 to $7 billion for Iran. He said that estimate seems to be holding - and may even have been too high.

"Nothing that we have seen leads us to question that estimate," Cohen said, adding, "If anything, that estimate is probably on the high side."

(Reporting by Patricia Zengerle; Editing by Sandra Maler)