By Ron Bousso and Timothy Gardner LONDON/WASHINGTON (Reuters) - The Obama administration has privately reminded foreign governments and U.S. bankers that sanctions against Iran remain in effect, cautioning against a rush by Western companies to invest in Iran's oil industry and other businesses until the country fully complies with the July nuclear agreement. The U.S. State Department recently cabled a message, known as a demarche, to embassies around the world to reiterate that sanctions on Iran are still in place, diplomatic and government sources told Reuters on Friday. The demarche stressed that sanctions on Iran would not be lifted until the International Atomic Energy Agency verifies that Tehran has complied with the terms of the deal.
Wells Fargo has so far outbid other parties for General Electric's vendor financing, commercial distribution finance and direct lending assets, the person with direct knowledge of the situation said on Friday. GE and Wells Fargo representatives declined to comment. The company unveiled its latest divestment agreement on Monday - for its North American corporate aircraft financing portfolio - bringing its total deals to date related GE Capital to $97 billion.