Introduction

1. Council Regulation (EU) 267/2012 (“the Regulation”) imposing financial sanctions against Iran (Nuclear Proliferation) has been amended so that an asset freeze no longer applies to the entities listed in the Annex to this Notice. Notice summary (Full details are provided in the Annex to this Notice)

2. The following entries have been removed from the consolidated list and are no longer subject to an asset freeze.

• Bank Saderat Iran (Group ID: 11185)
• Bank Saderat PLC (Group ID: 11268)

Legislative details

3. On 20 April 2016 Council Implementing Regulation (EU) No 2016/603 (“the Amending Regulation”) was published in the Official Journal of the European Union (O.J. L 104, 20.4.2016, p.8) by the Council of the European Union.

4. The Amending Regulation amended the listings of Bank Saderat Iran and Bank Saderat PLC so that they would remain in force until 22 October 2016. As that date has now passed, Bank Saderat Iran and Bank Saderat PLC are no longer subject to the restrictive measures set out in the Regulation, including the asset freeze. 

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