Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what steps his Department takes to help businesses to receive funds from Iran.

HM Treasury officials continue to work closely with UK banking industry bodies, as well as with UK-based banks, to understand the industry’s concerns and to work with them to identify approaches that will help facilitate payments from Iran.

Officials also continue to work closely with US colleagues to ensure that the US Office of Foreign Assets Control (OFAC) guidance and FAQs focus on issues that UK banks have raised and are as clear as possible. Officials continue to work with OFAC to feedback comments from industry.