The U.S. Treasury undersecretary urged Middle East nations
not to take the place of Western companies divesting from Iran.
“I recognize that it may be tempting to step into the
void that is being created by other companies pulling back their business in
Iran, but they are pulling back for a reason,” Stuart Levey said Wednesday
said at the Conference on Trade, Treasury and Cash Management in the Middle
East, taking place in Dubai.
“The world’s top financial institutions and
corporations are re-evaluating their business with Iran because they are
worried about the risk and their reputations.”