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UN Security Council removes Iranian bank from sanction list

Xinhua, January 18, 2016 Adjust font size:

The United Nations Security Council announced on Sunday that it has removed Iranian Bank Sepah and its international subsidiary from a sanctions list, said a note to correspondents by the council.

This move came after Saturday's announcement of a UN report confirming that Iran has completed necessary preparatory steps to start the implementation of a plan of action aiming to resolve the nuclear issue, it said.

Security Council resolution 2231 (2015), reached by Iran and a group of six countries, namely China, France, Germany, Russia, United Kingdom and United States, entrusted the International Atomic Energy Agency with verifying and monitoring Iran's commitments, it said.

Bank Sepah had been under a Council-mandated asset freeze since 2007. It provides support for the Aerospace Industries Organisation (AIO) and subordinates, including Shahid Hemmat Industrial Group (SHIG) and Shahid Bagheri Industrial Group (SBIG), according to the UN website. Endite