FEATURE-Iranian firms feel the heat as sanctions bite

Newswire

By Fredrik Dahl and Edmund Blair TEHRAN, Sept 26 (Reuters) - When a Western bank suddenly suspended the account of her family freight firm, Nazila Noebashari revived a financial practice she thought long gone: she sent staff to the Afghan border to collect $50,000 by hand. With foreign banks increasingly closing down business with Iranian customers in the face of U.S.-led sanctions, such physical transactions are the only way Traf Co Ltd and many other firms in Iran are staying in ...

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