UK Treasury deletes 3 Iranian companies from sanctions list

UK Treasury deletes 3 Iranian companies from sanctions list... 06/08/2016 Economy

Keywords:#2015, #British, #EU, #European, #European_Union, #HM, #HM_Treasury, #IRISL, #IRNA, #Iranian,, #Islamic, #Islamic_Republic, #London, #Maritime, #UK, #UK_Treasury, #US, #Vienna

London, Aug 5, IRNABritish HM Treasury has announced that following the EU, it had removed from its list sanctions the names of the three Iranian companies that had already been sanctioned due to the EU non-proliferation sanctions.
The HM Treasury announced in its website that the de-listings followed the General Court of the European Union and the announcement of the EU on Wednesday to remove them from the EU sanctions list.
The UK Treasury financial sanctions notice read that the three Iranian companies had asked the European Court to be delisted of the sanctions list, so from that date, asset freezes against those parties will no longer be in force.
The companies had been enlisted since 2008 under the pretext of campaign against weapons of mass destruction (WMDs).
Based on the EU announcement, following recent ruling of the General Court of the European Union, the three Iranian companies active in marine transportation are officially delisted from the EU sanctions list.
The EU announcement said the ruling for the consolidated list of asset freeze of the three companies of the welfare services institute of the Islamic Republic Shipping Lines (IRISL), the IRISL Multimodal Transport Company, and Leading Maritime PTE Co. is no longer valid and cooperation with the companies is no longer prohibited.
The General Court of the European Union had in November 2013 also ruled lifting the sanctions against the companies but the EU opposed the ruling.
Eventually in March 2015, the General Court of the European Union re-examined the case and confirmed the immediate verdict for lifting sanctions against the companies.
The companies had earlier been removed from the US sanctions list after the Vienna nuclear accord.
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