BANK SADERAT IRAN (B.S.I.) removed from EU sanction list on 23 October 2016

 

We are pleased to inform that the sanctions imposed on Bank Saderat Iran since 2010 have been removed as from 23rd October 2016.

Upon completion of our reconnection to SWIFT system, TARGET2 etc., we will be able to provide again our full range of services to clients and Correspondent Banks.

 


 

Financial Sanctions 2010

Despite having been regulated by the Local Competent Authorities, Athens Branch is disappointed by the European Council Decision dated 27.7.2010 to impose financial sanctions on Bank Saderat Iran and its Branches.

These sanctions were imposed by Regulation EC 668/2010, currently replaced by EC 267/2012, in the frames of “restrictive measures against Iran”.

All monetary and economic resources of Bank Saderat Iran in Europe (including our Branch) are frozen. Therefore we are not able to handle any new business until further notice.

If you are an account holder: Please contact our staff to receive instructions as to the procedure needed to obtain the necessary approval from the Local Competent Authority.

If you are a supplier: All invoices will be paid as normal, subject to the necessary authorization process.