Switzerland suspends part of sanctions on Iran

Baku. Real Jafarli – APA. Switzerland says it has suspended part of its economic sanctions against Iran in accordance with the Geneva nuclear deal between Tehran and the six world powers, APA reports Press TV.

Switzerland has lifted a ban on precious metal trade with Iranian public bodies and eased restrictions on trade in petrochemical products, transport of Iranian oil and petroleum products, and the provision of insurance for shipments until August 14, 2014, the Swiss Federal Council said in a statement on Wednesday.

The statement also noted that ceilings were raised tenfold for transfers of funds to Iranians.

The Swiss council added that it was following a move by the European Union, which agreed on January 20 to suspend part of the sanctions imposed on Iran.



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