Pakistan lifts sanctions on Iran


ISLAMABAD: Pakistan on Friday lifted the sanctions on Iran pursuant to United Nations Security Council Resolution 2231, said a statement issued here by the Finance Ministry.

The modalities for lifting of sanctions were finalized in an inter-ministerial meeting chaired by Minister of Finance Senator Mohammad Ishaq Dar.

A formal notification has been issued to this effect by the Ministry of Foreign Affairs after the meeting. This would revive economic and commercial relationship between Pakistan and Iran, including the areas of trade, investment, technology, banking, finance, energy.

“All previous notifications giving effect to UN Security Council sanctions on Iran stand repealed with the issuance of the new notification by the Ministry of Foreign Affairs,” the statement said.

Pakistan had welcomed the Joint Comprehensive Programme of Action (JCPOA) agreed between Iran and European Union, China, the United States, Germany, France, the United Kingdom and the Russian Federation.

Pakistan also appreciates the steps taken by Iran for the implementation of the JCPOA.

“It would enable the two countries to fully reinvigorate various bilateral and multilateral arrangements for promoting investments and cooperation in across all sectors including banking, finance, industry and energy,” the statement said.