Sanctions on 2 Iranian Firms Annulled

Sanctions on 2 Iranian Firms AnnulledSanctions on 2 Iranian Firms Annulled

The United Kingdom eliminated sanctions on Iranian Petropars Aria Kish Operation and Management Company and Petropars Resources Engineering Kish Company. According to a statement, released by UK Treasury, the two companies are no longer subject to the asset freeze imposed by the council regulation. In May, the two Iranian companies operating in oil, gas and petrochemical sectors successfully applied to have their Iranian sanctions listings annulled before the General Court of the EU. The two-month and 10-day period in which it was possible for the EU council to appeal this decision has now passed, and accordingly HM Treasury has published a notice announcing their delisting.