Pakistan to trade with Iran in euros

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ISLAMABAD: Pakistani businessmen will open letters of credit (LCs) for imports from Iran in euros instead of dollars as some US sanctions are still in place that could obstruct payments to Tehran.

The State Bank of Pakistan (SBP) told the Ministry of Commerce and other stakeholders in a recent meeting that it was not possible at this stage to open LCs in dollars in trade with Iran, a senior officer in the ministry told The Express Tribune.