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Monday, October 12, 2009

Britain stops trading with Iranian bank and shipping company

Britain has ordered all of its financial firms not to trade with Iran's Bank Mellat and Islamic Republic of Iran Shipping Lines out of fear that the two firms are involved in helping Iran to develop nuclear weapons.
"... Iran continues to pursue its proliferation sensitive nuclear and ballistic missile activities in defiance of five UN Security Council Resolutions," the Treasury said.

"On the particular entities in question, vessels of the Islamic Republic of Iran Shipping Lines (IRISL) have transported goods for both Iran's ballistic missile and nuclear programs."

"Similarly, Bank Mellat has provided banking services to a UN listed organization connected to Iran's proliferation sensitive activities, and been involved in transactions related to financing Iran's nuclear and ballistic missile program," it added.

The order was not part of existing U.N. sanction against Iran but was taken under the Counter Terrorism Act 2008. Its publication coincided with the return of lawmakers to parliament after their long summer break.
What took you so long?


At 5:48 PM, Blogger NormanF said...

I'm skeptical the sanctions will be actively enforced. Still being late to the scene of the crime is better than not being there at all.

Let's hope others follow the UK's example.


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