Ukraine lifts sanctions against Iran

This article deals with the recent #cancellation of some #personal sanctions against #Iranian citizens which may lead to further #facilitation of #trade and business relations between #Ukraine and the #Islamic Republic of Iran.

Visit our website if you are interested in the #Ukrainian economy or #doing business in Ukraine.

The President of Ukraine, Mr. Petro Poroshenko, signed the order of the National Security Council of Ukraine which lifts sanctions against some Iranian citizens, which were imposed by the UN in 2007 due to Iranian nuclear programme.

The National Security Council of Ukraine resolved to ease some personal, economic and other restrictive measures (sanctions) against Iran in May. While personal sanctions are lifted by the order of the President of Ukraine, economic and special restrictive measures are expected to be lifted soon by the Parliament of Ukraine. At the same time, some personal sanctions against Iranian citizens and companies will be valid until October 2018.

The Minister of Foreign Affairs of Ukraine expects that cancellation of sanctions against Iran will help to facilitate trade relations with this Islamic Republic. We note that during the Fifth meeting of the Intergovernmental Ukrainian-Iranian joint commission for economic and trade cooperation a memorandum of mutual understanding was signed by the parties, in which all the areas of cooperation between Ukraine and Iran are specified with concrete steps for implementation of such cooperation.

One of the key areas of cooperation is agriculture. Ukraine is ready to export grain, vegetable oil, animal products, live cattle, sugar and confectionery, fruit and vegetables to Iran. In its turn, Iran is interested in exporting agricultural products to Ukraine, including dried fruit, shrimp, fish, etc.

The other important area of cooperation is logistics and infrastructure. Ukraine invited Iranian business to participate in privatization process for various state enterprises.

Iran is also looking for establishment of close cooperation in aviation, in particular in modernization of AN-140-100 plane and its joint manufacturing, including its new modifications, and in marketing and sale of AN-158 in Iran and the Gulf region.

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