EU de-lists Bank Saderat and its UK Plc

The EU has de-listed Bank Saderat and its UK subsidiary Bank Saderat PLC from its sanctions on Iran, further to a decision that the Bank’s listing should apply only until 22 October 2016 (see previous blog). Bank Saderat was not due to be de-listed under the JCPOA until transition day, 20 October 2023. The UK Treasury has published a notice here confirming that these entities are no longer subject to an asset freeze.