Pakistan has lifted the sanctions on neighbouring Iran pursuant to UN Security Council Resolution, officials said.
Pakistan has lifted the sanctions on neighbouring Iran pursuant to UN Security Council Resolution, officials said.
The government was reluctant to say whether the Iran-Pakistan gas pipeline project would be implemented or not. An official handout released by the ministry of finance said economic and commercial relationship between Pakistan and Iran will revive, including in the areas of trade, investment, technology, banking, finance and energy.
Pakistan has lifted the sanctions on Iran pursuant to UNSC Resolution 2231, it said. The United States has already made it clear to Pakistan that Iran-Pakistan gas pipeline project would be judged. Jonathan Elkind, assistant secretary for international affairs in the US department of energy during his visit to Pakistan in early February, said the government should purchase natural gas from the market at low price. The handout said that all previous notifications giving effect to UNSC sanctions on Iran stand repealed with the issuance of the new notification.
Pakistan had welcomed the Joint Comprehensive Programme of Action (JCPOA) agreed between Iran and European Union, People’s Republic of China, United States, Germany, France, United Kingdom and the Russian Federation. It appreciated the steps taken by Iran for the implementation of the JCPOA.
With the lifting of restrictions, economic and trade relations between the two neighbourly countries will receive a new boost. It will enable the two countries to fully reinvigorate various bilateral and multilateral arrangements for promoting investments and cooperation in across all sectors including banking, finance, industry and energy.
On July 20, 2015, the Security Council unanimously adopted resolution 2231 (2015) endorsing the JCPOA, which calls for promoting and facilitating the development of normal economic and trade contacts and cooperation with Iran, and having regard to States’ rights and obligations relating to international trade.
The move came after UN nuclear watchdog ruled that Iran had abided by an agreement with six world powers to curtail its nuclear programme. Iran had carried out all measures required under the (July deal) to enable implementation day (of the deal) to occur, the Vienna-based International Atomic Energy Agency said.
