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EghtesadOnline: The UK Department of Treasury has announced that it has removed Iran’s Bank Saderat and Bank Saderat PLC (the European branch) from its sanctioned list.

The Department has stated that the bank was blacklisted due to the nuclear sanctions imposed on the country. The release added that the Bank assets had also been unfrozen. 

According to the announcement, lifting of the international sanctions and also the Joint Comprehensive Plan of Action were the reason behind the decision, reports ISNA.

The regulations required the sanctions against the BSI to be maintained until 22 October 2016. 

The announcement read, “Bank Saderat Iran and Bank Saderat PLC are no longer subject to the restrictive measures set out in the Regulation, including the asset freeze.”

UK Treasury Iran Bank Saderat