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Energy
Italy

"Iran is holding an international oil, gas, and petrochemical industrial exhibition in which a strong sense of hope prevails regarding the future possibility of Iran-world business boom as the country is now free of sanctions. However, a general inquiry from various companies which have set up booths around the fairground tells of one running theme: the banking problems that still hinder transfer of money to or from Iran. 'Banking is a real problem. We have many projects that are currently let down because Iranian companies have no financer,' Roberto Epicoco, manager of projects at the Italian Skem industrial consultation firm told Trend May 7. He pointed out that his company is overseeing many petrochemical projects in Iran, including a major one in the production of polyolefin, all of which are waiting for banking relations to be established." (Trend News Agency, “Iran’s international oil show: Participants under spell of banking problem,” 5/8/2016)