Iran: Banking problems scupper Tehran airport deal

Iran has cancelled a preliminary agreement with France’s Bouygues to expand Imam Khomeini International Airport (IKIA) in Tehran, after the French group apparently had difficulty securing backing from international banks. It is the latest sign that US sanctions continue to hamper international businesses wanting to work in Iran. IKIA Airport City Company managing director Mahmoud Navidi told local media the arrangement had been cancelled three or four months ago. Some discussions are ongoing, said a Bouygues spokesman quoted by Reuters.