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EghtesadOnline: The post-Brexit United Kingdom is keen on boosting trade with Iran but certain challenges need to be overcome before the two countries can reach that crucial point, Tehran's envoy to London said.

Britain's formal exit from the European Union marks one of the most important political developments in the Western European state's history, with huge impacts for both itself and the EU, Hamid Baeidinejad wrote in his Telegram channel.

Following more than three years of polarizing debate, the UK finally left the European Union on Friday after 47 years of membership, entering a transition period that will decide Britain's trade relations with the world's biggest trading bloc, according to Financial Tribune.

"Britain's government will take on a heavy responsibility under the new circumstances. Therefore, free of EU regulations, it will try to foster cordial relations with the world's major countries to not only halt the decline of its economy but also improve it," he said.

Baeidinejad noted that this is why the UK is willing to develop friendly relations with Iran, if serious obstacles, such as American sanctions and Washington's close ties with London's financial markets, are surmounted. 

Despite US withdrawal from the 2015 Iran nuclear accord, Britain has repeatedly expressed support for the landmark deal formally known as the Joint Comprehensive Plan of Action. 

 

 

Post-JCPOA Relations

According to Baeidinejad, an indicator of potential trade relations between Tehran and London is the short-lived post-JCPOA era when the two countries reached several agreements worth billions of euros in various sectors. 

The ambassador to Britain named several of the contracts that were suspended after the reimposition of US sanctions on Iran, including a solar power project with the British renewable energy investor Quercus, contracts with Airbus and Rolls-Royce for the purchase of airliners and spare parts, and a memorandum of understanding between Iran and the UK’s International Hospitals Group to build a network of modern cancer treatment centers in Tehran and other provinces. 

The diplomat noted that Iranians are not the only ones opposed to US President Donald Trump's sanctions. 

"The sanctions have denied international companies the legitimate right to trade with Tehran," he added.

Despite the recent strains on Tehran-London relations, Baeidinejad said large companies in Europe and the world are "fed up with the US coercion" and are longing for the "immediate" breakdown of Trump's unilateral policies. 

Not long ago, Britain joined the US-led maritime coalition that was formed to protect cargo ships in and around the Strait of Hormuz after they accused Iran of attacks on oil tankers. Iran has denied the claims and denounced the naval deployment. 

The animosity was further fueled after Iran's parliamentarians called for downgrading diplomatic ties with the UK following the brief arrest of Britain's Ambassador Robert Macaire due to his presence in a protest in Tehran.

 

Envoy Uk Iran relations trade Brexit Hamid Baeidinejad Trade With Iran Broader United Kingdom Potential post-Brexit