Tehran, April 2, IRNA – The US President Barack Obama said business companies will gradually realize that there are no real risks in doing business with Iran.

Talking to reporters at the close of the two-day Nuclear Security Summit in Washington, DC. on Friday, he said Iran did not need to do business in US dollars when it has the ability to work with European financial mechanisms.

The United States will try to help foreign companies become more at ease doing business with Iran after last year's nuclear deal, but Tehran must also reassure them it is a safe place to invest, President Barack Obama said as quoted by the Reuters.

Iranian officials have complained the country is not getting the full economic fruits of the landmark July 14 deal, which offered sanctions relief in return for Iran's curbing its nuclear program.

Obama said foreign companies needed to get used to the idea of working with Iran after many years in which they faced high penalties if they did so and violated sanctions.

He also said U.S. Treasury Secretary Jack Lew, along with his counterparts from the five other world powers that negotiated the deal with Iran, would provide 'clarity to businesses about what transactions are, in fact, allowed.'

Obama said it would take several months for companies to feel confident they can deal with Iran.

However, he said the United States was not looking to permit the use of the U.S. financial system for dollar-denominated transactions with Iran, and said foreign companies could work through European banks.


'Some of the concerns that Iran has expressed, we are going to work with them to address,' Obama said, adding that it was 'not necessary that we take the approach of them going through dollar-denominated transactions.'

He also placed the onus on Iran to do more to reassure the world that it was a safe place to invest.

According to the Reuters, he further said that 'Iran so far has followed the letter of the agreement, but the spirit of the agreement involves Iran also sending signals to the world community and businesses that it is not going to be engaging in a range of provocative actions that might scare business off.'