India bans trade related to Iran nuclear weapons
India has banned the direct or indirect export and import of all goods and services from Iran which could help Iran develop nuclear weapons, the New Delhi with reference to the Wall Street Journal.
The changes have been made in India's Foreign Trade Policy for 2009-2014, a government statement said.
The government's decision is in-line with United Nations Security Council's resolution for sanctions on Iran related to its nuclear and missile development program, the statement issued Thursday by federal commerce and industry ministry said.
Earlier, on Wednesday, Hong Kong had passed laws to comply with UN sanctions against Iran, two months after 20 shipping firms in the city were accused of having links to Tehran's weapons buildup, AFP reported.
In December, 2010, the Indian Reserve Bank said all trade-related payments with Iran have to be made outside the Asian Clearing Union (ACU), a regional clearing house through which most trade between India and Iran, which is subject to strict sanctions imposed by the US and the Europe, was being conducted. The sanctions include a ban on arms sales.