Britain lifts asset freeze on five Iranian companies

The Iranian companies were suspected of using their services for fulfilling Iran's nuclear ambitions.

Britain lifts asset freeze on five Iranian companies

World Bulletin/News Desk

Britain has lifted sanctions against five Iranian entities following a verdict by a European Union court. 

In a notice published last Friday, the British treasury said sanctions against the National Iranian Tanker Company, Sorinet Commercial Trust, Sharif University of Technology, Moallem Insurance Company and Sina Bank had been annulled. 

The bans were imposed because the companies were suspected of using their services for Iran’s nuclear energy program. 

The lifting of sanctions came into effect when Britain did not challenge the verdict at the European Union court within the stipulated two-month timeframe.

“An asset freeze no longer applies,” the notice said.  

Bilateral relations between Iran and Britain have improved since diplomatic relations were suspended in 2011. Back then, Iranian protesters had attacked the UK embassy in Iran and Britain responded by expelling Iranian diplomats. 

This year, the U.K. announced it would reopen its embassy in Tehran.

Also, last month, Prime Minister David Cameron met with Iranian President Hassan Rouhani at the UN in New York, which was the first time a British premier met with an Iranian president since the 1979 revolution.

 

Last Mod: 09 Ekim 2014, 22:30
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