On 16 January 2016, the European Council lifted all nuclear-related economic and financial EU sanctions against Iran following verification by the International Atomic Energy Agency that Iran had implemented all nuclear-related measures agreed in a Joint Comprehensive Plan of Action. Consequently, the Minister for External Affairs has decided not to re-enact the MLWD Order, which expired on 14 January 2016.
The UK government has published information relating to Iran which Industry may find useful:
- Revised Guidance: Doing business with Iran; https://www.gov.uk/government/publications/doing-business-with-iran and
- the HM Treasury Financial Sanctions Notice on Iran (Nuclear Proliferation).
Caution is still required in dealing with Iran: whilst economic and financial sanctions are lifted, there remain some import and export restrictions, a number of individuals and entities remain subject to restrictive measures, and a number of Iranian entities also remain listed for human rights and terrorism concerns.
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