We have heard from exporters to Iran that some Banks are withdrawing services they were providing for business with Iran and legitimate long standing previously sanctioned business is now being blocked.

It appears there certainly are current banking problems with Iran. Attached is a statement from the British Iranian Chamber of Commerce which outlines the liquidity problems in the economy.

 

The British Chambers of Commerce have spoken with Raheem Uddin (UKTI Iran desk) and Mr Youssef (Jo) Daneshvar at the BICC. It seems one of the Iranian Banks ( Bank Sepah) has had UN Sanctions put on it,  but there are 3 other Iranian Banks in London operating at the moment:- Bank Melli PLC, Bank Saderat, Persia International Bank.  

 

A further problem however, is that two of our own clearing Banks (Barclays & HSBC) are not acting as clearing agents for payments from Iranian Banks. The BICC has written to the Treasury on behalf of British exporters but the Government response is that Barclays & HSBC are private sector banks and the decision is theirs. Now the BICC wants to try to get the Bank of England to intervene.

 

Mr Daneshvar was very helpful and offers to help any exporter with this problem, through the BICC. The BICC is also holding its AGM and Members meeting at their office in London on Friday 21st September, at which the UK Ambassador will be speaking and all the Iranian Banks will be represented. Any exporter wishing to go along should call the BICC on 020 7233 4441 Mrs Taheri.

 

Exporters can also check the BICC website: www.bicc.org.uk for current trading restrictions with Iran and the UK Trade Invest website: www.uktradeinvest.gov.uk  or tel: 020 7215 4834 (Iran desk) for the current trading situation and any updates.

 

We trust this information is of assistance should any of your exporters trading in Iran, ask questions on this subject.