The decision by BNP Paribas and Commerzbank to help the Middle Eastern state will be criticised as the US still regard Iran as an active sponsor of terrorism and a member of the 'axis of evil.'
Iran is to press ahead with its first Eurobond issue since 1979 and the two European investment banks will handle the issue. It is believed that Iran will raise over £300m from the offer.
The issue is expected to be followed by others in Iran, which could include the state-owned oil and gas and petrochemicals industries.
It is unclear whether the banks will attempt to sell the bonds to US investors.
Investment Banks Support Iran
BBC News Online reports that two European investment banks have signed up to help Iran tap in to the international capital markets.
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