Tasnim � Oberbank, Austria�s seventh-largest bank, has put projects �on hold� due to the uncertainties surrounding the 2015 nuclear deal between Tehran and world powers, a report said.


In a presentation to shareholders by Oberbank CEO Franz Gasselsberger, said the financing of projects in Iran remains �on hold� because the current US policy "complicates the business massively�, a new report in Austria's Die Presse said.

He added the prospect that secondary sanctions could �snapback� on May 12 if US President Donald Trump refuses to reissue key sanctions waivers was highlighted as something the bank�s leadership will need �take a close look at.�

Oberbank had signed an agreement to extend a EUR 1 billion line of credit to Iran in September of last year.

The finance deal was intended to support capital-intensive infrastructure and energy projects led by Austrian companies and was earmarked for projects of over two years in duration.