Pakistan lifts sanctions on Iran

Now, the two neighbouring countries will be able to boost relations in multiple areas including economic and trade


News Desk February 19, 2016
The Iran-Pakistan pipeline project. PHOTO: REUTERS

Pakistan has lifted sanctions on Iran, reviving economic relationship between the two neighbouring countries in several areas of businesses and trade, Radio Pakistan reported.

On January 17, world powers had lifted sanctions on the Islamic republic following a historic agreement between the two sides in Vienna on July 14 2015 came to effect.

Finance Minister Ishaq Dar announced to lift the sanctions at a meeting in Islamabad on Friday, saying modalities to this effect were decided in an inter-ministerial meeting.

Post-sanctions: Pakistan expects positive response from Iran

The decision, Dar said, was taken pursuant to a resolution of the United Nations Security Council in connection with Iran's nuclear programme.

According to the minister, a notification issued by the foreign affairs ministry will revive economic and commercial ties between the two countries.

Tehran will now be able to benefit from agreements with Islamabad in the areas of trade, investment, technology, banking, finance and energy, the finance minister added.

He hoped that the development will see a fresh boost in the bilateral economic and trade relations.

The agreement with the six world powers – China, France, Russia, United Kingdom, United States and Germany – last year required Iran to shrink its nuclear programme.

International sanctions lifted after Iran complies with nuclear deal

The Islamic republic was in turn allowed access to global oil market and trade agreements.

EU Foreign Policy Chief Federica Mogherini, representing the six powers, had announced lifting of “multilateral and national economic and financial sanctions related to Iran’s nuclear programme.”

COMMENTS (7)

John B | 5 years ago | Reply "PAK resumed normal trade relations as western sanctions against Iran was lifted " is more accurate. PAK never I posed sanctions on Iran. PAK only complied to the Western sanctions.
NKAli | 5 years ago | Reply Pakistan is a 'mixed plate of chat pattas' and confused priorities. For instance, only fools live on loans and take loans to repay maturing ones. One has to make the most of loans taken. Iran's border with ours is even more important than Russia's or America. Russia is a few hundred miles away and America is ten thousand miles far. So, why the slack? Because we have prioritised our countries needs and given pre-eminence to muk muka and personal needs. Salams
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