ISLAMABAD: Pakistan has lifted sanctions on Iran pursuant to UN Security Council Resolution 2231, said a statement issued here on Friday.
The modalities for lifting of sanctions were finalized in an inter-ministerial meeting chaired by Minister of Finance, Senator Mohammad Ishaq Dar, it said.
“The formal notification issued by the Ministry of Foreign Affairs, following the meeting, will revive economic and commercial relationship between Pakistan and Iran, including the areas of trade, investment, technology, banking, finance, energy,” the statement said.
All previous notifications giving effect to UN Security Council sanctions on Iran stand repealed with the issuance of the new notification by the Ministry of Foreign Affairs, in keeping with the Security Council resolution 2231.
Pakistan had welcomed the Joint Comprehensive Programme of Action (JCPOA) agreed between Iran and European Union, China, United States, Germany France, United Kingdom and Russia.
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.