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EU removes Iranian companies from sanctions list

31 July 2015 14:49



European Union has removed two Iranian companies operating in oil, gas and petrochemical sectors from its list of illegal sanctions.

In a statement issued by UK Treasury on Thursday, Petropars Aria Kish Operation and Management (POMC) and Petropars Resources Engineering Kish (PRE) were taken off from EU’s sanction list.

The two companies successfully applied to have their sanctions listings annulled before the General Court of the EU in May.

“The 2-month-and-10-day period in which it was possible for the EU Council to appeal this decision has now passed, and accordingly HM Treasury has published a notice announcing their delisting,” the UK Treasury’s statement said.

In its May ruling, the General Court of the EU, however, dismissed the applications to annul the sanctions listings of Petropars Iran Co. (PPI) and Petropars Oilfields Services Co. (POSCO).

Under the Joint Comprehensive Plan of Action reached between Iran and the 5+1 earlier this month and endorsed by the EU and the UN Security Council, all sanctions on the Islamic Republic must be lifted.

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