Iran and Germany’s Deutsche Bank have resumed cooperation in oil trade, announced deputy oil minister for international affairs.

Referring to insufficient cooperation between Iran and major European banks, particularly regarding oil deals, in the post-JCPOA era, Amir Hossein Zamani-Nia, added, “However, unlike the past, when collaborations were limited to small European banks, prominent banks are boosting their ties with Iran,” Mehr News Agency reported.

“Transactions with Deutsche Bank of Germany were resumed a few days ago for a number of oil deals,” said the official asserting that several other major European banks will reinvigorate ties with Iran in coming days.

Referring to the talks with giant oil companies over new oil partnerships with Iran under IPCs (Iran Petroleum Contracts), Zamaninia said, “Although negotiations are underway, a number of firms are still harboring doubts about launching cooperation with Iran within the framework of the new model of Iranian oil contracts.”

“Talks are underway to present IPCs to foreign companies, European firms in particular,” the official noted, adding remarkable progress have been made in negotiations with major European companies, the outcomes of which will be announced within a few weeks.

Deutsche Bank had officially suspended its banking activities in Iran in 2006, especially in the field trading crude and oil products. / Iran daily /