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UK ends general licenses for several Iranian banks
The UK Office of Financial Sanctions Implementation (OFSI) has announced the expiration of general licenses that permitted certain essential payments and current expenses for several Iranian financial institutions. The licenses expired at 23:59 local UK time on Thursday.
The affected entities include Bank Melli PLC, Bank Saderat, Bank Tejarat, and Parsian International Bank, as well as Iran Insurance Company. One report also includes Bank Mellat among the affected institutions. The expiration does not signify the closure or total revocation of these banks' operations, but rather the end of the general exemptions that allowed specific types of transactions under UK sanctions regulations.
Following a decision announced by the UK Treasury in September, future license applications for these banks will be processed under a ‘presumption of denial’ policy, with exceptions granted only in highly limited and extraordinary circumstances. The UK government stated this move is part of a broader strategy to increase economic pressure on Iran, coordinated with the United States and other Western partners, citing concerns over Iran’s nuclear program.
Entities
Bank Melli PLC · Iran · Office of Financial Sanctions Implementation · United Kingdom · United States
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The UK Treasury will now review license applications for these banks with a 'presumption of denial' approach. www.khabarfoori.com · www.etemadonline.com
- [● 2 SOURCES] Iran Insurance Company is also included in the list of institutions subject to the license expiration. www.khabarfoori.com · www.etemadonline.com
- [● 3 SOURCES] The UK Treasury's general licenses for essential activities of several Iranian banks expired at 23:59 local UK time on Thursday. www.khabarfoori.com · aftabnews.ir · www.etemadonline.com
- [● 2 SOURCES] The expiration of the licenses does not mean the closure or cancellation of the banks' operations. www.khabarfoori.com · www.etemadonline.com
- [● 3 SOURCES] Affected institutions include Bank Melli PLC, Bank Saderat, Bank Tejarat, and Parsian International Bank. www.khabarfoori.com · aftabnews.ir · www.etemadonline.com
- [○ 1 SOURCE] Bank Mellat is among the banks affected by the decision. aftabnews.ir
- [● 2 SOURCES] The UK aims to use these pressures to achieve a diplomatic solution regarding Iran's nuclear program. www.khabarfoori.com · www.etemadonline.com
- [● 3 SOURCES] The UK government is coordinating these economic pressures with the United States and other Western partners. www.khabarfoori.com · aftabnews.ir · www.etemadonline.com