SEOUL — If international sanctions on Iran are lifted pronto — a condition Iran is demanding as part of any nuclear deal — how hard might it be to reimpose them, in the likely event that Iran cheats? For a glimpse of just how tough it could be, take the case of Iran’s Bank Mellat, headquartered in Tehran, but with a branch in Seoul — where, during a recent trip to South Korea, I dropped by for a look.
Occupying spacious quarters on the 13th and 14th floors of a high-rise office building in Seoul’s busy Gangnam district, this branch of Bank Mellat appeared to have no customers on the premises. That was no surprise, because for several years now, Bank Mellat in Seoul has been under sanctions by the U.S., United Nations and the South Korean government.