Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign and Commonwealth Affairs, what restrictions are in place on trade with, and exports to, Iran; what changes there have been in such restrictions in the last two years; what his policy is on amending the current restrictions; and if he will make a statement.

The EU has an extensive sanctions regime against Iran, including an oil embargo and severe restrictions on the Iranian financial sector. In December 2012, the EU added further measures, including trade in raw metals and the import of Iranian natural gas. As a result of the Joint Plan of Action, agreed between Iran and the E3+3, the EU agreed to suspend sanctions on trade in petrochemicals, gold and precious metals and not to impose any new sanctions for the duration of the agreement. Unless the nuclear issue is resolved, the government will not promote trade with Iran and the EU sanctions will remain in place.