UK removes Iranian bank from sanctions list
Baku, Azerbaijan, Oct. 25
By Khalid Kazimov – Trend:
The UK has announced that it has removed Bank Saderat Iran (BSI) from its list of sanctioned entities.
According to the UK Treasury announcement, the BSI’s blocked assets have also been unfrozen.
The UK Treasury through the announcement said it has removed Bank Saderat from the consolidated list and it is no longer subject to an asset freeze.
The regulations required the sanctions against the BSI to be maintained until 22 October 2016.
Although the nuclear related sanctions on Iran were lifted following the implementation of the Joint Comprehensive Plan of Action on January 16, Iran still has difficulty establishing banking ties with leading European banks as they are worried about running afoul of US regulations.