Iranian firms removed from special supervision list in UK

EghtesadOnline: The British Department for International Trade in a new post-sanction notice announced that Iran list was removed from GOV.UK.

News ID: ۷۷۴۹۷۲

28 March 2017

According to GOV.UK, Iran list, which identified a range of entities, companies and organizations in Iran, was published to help exporters judge whether their exports might potentially be of concern on end-use grounds, based on Export Control Organization ECO’s previous decisions about exports.

“The lifting of some sanctions means that Iran is able to trade more freely with the international community. This offers an opportunity for UK companies to win business in the biggest market to enter the global economy in decades,” the notice reads.

“The UK Government fully supports expanding our trading relationship with Iran and encourages UK businesses to take advantage of the commercial opportunities that arise.”

“The Iranian government has clearly stated its desire to attract foreign direct investment to meet the country’s ambitious growth targets, and private firms around the world, including the UK, will soon have new business opportunities that will also benefit Iran and her people,” the notice continues.

As per the new notice, an informed source told IRNA on Monday that the
Department for International Trade had released a list regarding the fact that Iranian firms should be under special supervision on exporting products, equipment and services.

Based on the list, exporters were required to be aware of those companies in the Department for International Trade’s sanctions list.

In a recent speech in the British parliament, Secretary of State for International Trade Liam Fox pointed to unmatched trade opportunities with Iran in post-sanction era, saying that work on normalization proccess of effective channels for financial transactions with Iran has started.