Grain traders have found themselves unable to conclude food supply deals with Iran since US sanctions resulted in a lack of banks willing to process payments. While food is among the supplies exempt from Washington’s sanctions, grain traders such as Cargill and Bunge have been forced to halt business with Iran, because most foreign banks have chosen to suspend all dealings with the country, leaving only a "handful of small European banks" with little to no dealings with the US will do business in Iran. As of the end of the year, 16 ships were waiting in Iranian ports to unload cargo.
Grain traders have found themselves unable to conclude food supply deals with Iran since US sanctions resulted in a lack of banks willing to process payments. While food is among the supplies exempt from Washington’s sanctions, grain traders such as Cargill and Bunge have been forced to halt business with Iran, because most foreign banks have chosen to suspend all dealings with the country, leaving only a "handful of small European banks" with little to no dealings with the US will do business in Iran. As of 21 December, 16 ships were waiting in Iranian ports to unload cargo.