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Could humanitarian bank project advance US, Iranian interests?

The complex network of sanctions on Iran means that even exempted humanitarian transactions remain difficult, and a humanitarian bank could provide the Iranian-American community with a legitimate, closely monitored channel to conduct business as well as prevent black market activities.
Iranians check a display board at a currency exchange shop in the capital Tehran, on September 29, 2020. - For Iran, struggling from sanctions imposed under Washington's policy of "maximum pressure", the US presidential race raises hope of change -- but also fears that life could get even worse. (Photo by ATTA KENARE / AFP) (Photo by ATTA KENARE/AFP via Getty Images)

As the new administration in Washington outlines and develops its Iran policy — including whether, how and at what pace to lift sanctions on Tehran — the Iranian people still face challenges making any transfers in and out of the country at a time when many are facing economic hardships and humanitarian crises. While these policies are being worked out, a closely monitored "humanitarian bank" could offer an opportunity for Iranians abroad to send money to relatives and improve their daily lives.

The slew of sanctions on Iran has made it nearly impossible to transfer money into the country, causing frustration for many Iranian-Americans living in the United States and Iranians with family abroad. 

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