Bank Melli plc

Treasury written question – answered on 15th July 2008.

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Photo of Crispin Blunt Crispin Blunt Opposition Whip (Commons)

To ask the Chancellor of the Exchequer whether the EU designation and his Department's asset freeze imposed on Bank Melli plc is (a) related to Bank Melli plc's activities or (b) aimed at the holding company in Iran; and if he will make a statement.

Photo of Kitty Ussher Kitty Ussher Economic Secretary, HM Treasury

holding answer 8 July 2008

The financial sanctions imposed on Bank Melli plc are directly applicable EC sanctions which the UK has an obligation to enforce. The EC sanctions designated Bank Melli Iran and its branches and subsidiaries abroad, including Melli Bank plc and Bank Melli Iran Zao. As the relevant Council Decision makes clear, Melli Bank plc is designated for financial sanctions as a part of the Bank Melli group and as a subsidiary of Bank Melli Iran.

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