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EghtesadOnline: Luxembourg Chamber of Commerce Chief Carlo Thelen described the sanctions as obstacles in banking and financial relations between his country and Iran.

Thelen, who was in Tehran along with a Luxembourg delegation, told IRNA that he is optimist about normalization of the trade exchanges between the two countries.

Although there are hindrances on way of boosting bilateral cooperation, Iran is moving on the right direction, he said.

He further expressed hope that all the sanctions, even the internal ones in the US, would be lifted, so the business persons will develop their economic activities without worry, reports IRNA. 

Luxembourg City and Tehran have resumed ties after the Joint Comprehensive Plan of Action (JCPOA), said Thelen, adding that the worth of trade exchange between the two is five million euros at present that should increase.

About the aim of the presence of the Luxembourg delegation in Iran, Thelen said his country is determined to normalize relations with the Iranian side. 

No agreement has been signed in Iran yet, but the two are negotiating to draw up framework for bilateral relations, the economic official added.

Luxembourg, as Thelen said, is interested in having cooperation with Iran in the areas of development of infrastructures, information technology and auto industry.

Iran Banking Iran sanctions Iran-Luxembourg trade banking sanctions Carlo Thelen