Trade: SBP removes sanctions on Iran

Pakistan and Iran will revive normal trade and business activities between the two neighbours


Our Correspondent February 25, 2016

KARACHI: The State Bank of Pakistan (SBP) has said the previous sanctions on Iran have now been removed and normal business activities can be commenced within the scope of the United Nations Security Council (UNSC) resolution of July 20, 2015. “Banks/financial institutions have been advised to remain mindful about the activities and persons, which continue to remain on the UNSC list as well as the currencies or financial systems which are subject to certain restrictions,” an SBP statement said on Thursday. It is expected that the lifting of sanctions and restoration of banking channels between Pakistan and Iran will revive normal trade and business activities between the two neighbours, it added.

Published in The Express Tribune, February 26th, 2016.

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