The German bank has started to provide oil-related financial services to Iran after a halt of almost 10 years.

Peter Ramsauer, the chairman of the economics committee of the German parliament, says the US has waged an ‘economic war’ against Deutsche Bank over its alleged sales of mortgage-backed securities.

Deutsche Bank will pay $258 million and fire six employees to the US to resolve a case involving violations of Iran and Syria sanctions.

Deutsche Bank has announced that it will cut 35,000 jobs through redundancies and the sale of businesses.

Germany’s biggest lender, Deutsche Bank, mistakenly sent $6 billion to a client in the US in a rare fat-finger error of such magnitude, international media reports say.