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EU lifts sanctions on 14 Iranian entities in a year

Source: Tehran Times

The European Union has annulled sanctions against 14 Iranian entities since President Hassan Rouhani took office in August 2013, the IRNA news agency reported on Sunday.

Sanctions against Moallem Insurance Company, Iran Insurance Company, Mellat Bank, Sina Bank, Exports Development Bank, Post Bank, Refah Kargaran Bank, and Persia International Bank have been lifted, according to the report.

The EU has also annulled sanctions against the National Iranian Oil Company, the Iranian Offshore Engineering and Construction Company, the North Drilling Company, and the Islamic Republic of Iran Shipping Lines (IRISL).

Fulmen Company (a private-sector power company) and Sharif University of Technology were other Iranian entities which came out of the sanctions list.

Iran and the 5+1 group (the five permanent members of the UN Security Council plus Germany) signed an interim agreement over Tehran's nuclear program in Geneva on November 24, 2013, according to which Iran agreed not to expand its nuclear program and to suspend its 20 percent uranium enrichment in return for a limited easing of the sanctions imposed on the country.

On July 1, Iranian President Hassan Rouhani said the sanctions imposed on Iran have already been eased through actions taken by his government and the nuclear negotiating team.

"The bowl of sanctions has broken... and [nobody] can return this broken bowl to its previous state," Rouhani stated.

... Payvand News - 07/14/14 ... --

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