A meeting will take place in London on Tuesday between the Iranian central bank, the U.S. Treasury and international banks to discuss U.S. sanctions, British Foreign Secretary Philip Hammond said.

Since international sanctions over Iran's nuclear program were lifted in January, the world's big banks have continued to stay away because they fear being penalized by remaining U.S. sanctions over issues such as money laundering.

Asked by a lawmaker in parliament what discussions he was having with the United States on banking sanctions in order to encourage more British businesses to invest in Iran, Hammond said a meeting was due to take place in London.

"There is a meeting happening this afternoon ... between the Iranian Central Bank, the United States Treasury and international banks based in London in an attempt to try to make some progress on this matter," Hammond said.

By Reuters