Asian and European banks are still shunning Iran — and Tehran blames the U.S.

Iran’s long isolation from the global financial system, continuing sanctions and its own practices, such as arresting foreign businessmen as suspected spies, are hampering its ability to benefit more from a groundbreaking nuclear deal, according to current and former U.S. officials and Iran scholars.

Although the number of business deals has slowly increased since nuclear-related sanctions were lifted in January, large banks in Europe and Asia have balked at financing major projects in Iran.

The reasons for Iran’s financial and investment problems are multifaceted, but Washington and Tehran blame each other.

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