UK Removes Iranian Bank from Sanctions List

Bank Saderat Iran (BSI) has been removed from Britain’s list of sanctioned entities, a report said.

The UK Treasury made an announcement on Monday, saying that it has lifted its sanctions on the Iranian bank, which had been blacklisted as a result of sanctions against Iran.

The decision to delist the bank, it said, was in line with the amended regulations by the European Union regarding the lifting of sanctions against Iran.

The regulations required the sanctions against the BSI to be maintained until 22 October 2016.

“As that date has now passed, Bank Saderat Iran and Bank Saderat PLC are no longer subject to the restrictive measures set out in the Regulation, including the asset freeze,” read part of the British Treasury announcement, according to Press TV.

Britain has previously lifted sanctions against three other Iranian banks. In January, the Bank of England announced that it had reactivated the licenses of Melli Bank, Persia International Bank and Bank Sepah International – that had been subject to EU and US sanctions – thus allowing them to resume operations in the UK.

(Source: Tasnim, under Creative Commons licence)

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