Banking Restrictions Suspend Iranian Exports to Pakistan
(MENAFN) Iranian exports to Pakistan have been "temporarily" suspended because of banking sanctions, while goods continue to enter Iran from Pakistan, according to reports published Saturday.
Peyman Sanandaji, who heads the Transportation Commission at the Tehran Chamber of Commerce, says the land border between the two countries remains operational, dismissing claims that a border crossing has been shut down.
Sanandaji explains that Pakistani importers must submit electronic import declarations through Pakistan’s banking system when purchasing goods from Iran. However, restrictions targeting Iran’s financial sector have complicated these procedures, creating obstacles for exporters in Iran and importers in Pakistan.
Trade flows in the opposite direction remain unaffected, with imports from Pakistan into Iran continuing, he adds.
Sanandaji cautions that Iranian shipments to Pakistan could remain effectively suspended if the banking restrictions are not eased.
Iran’s financial sector faces extensive US sanctions that limit transactions involving Iranian banks and may expose foreign financial institutions to punitive measures if they conduct business with sanctioned Iranian entities.
Peyman Sanandaji, who heads the Transportation Commission at the Tehran Chamber of Commerce, says the land border between the two countries remains operational, dismissing claims that a border crossing has been shut down.
Sanandaji explains that Pakistani importers must submit electronic import declarations through Pakistan’s banking system when purchasing goods from Iran. However, restrictions targeting Iran’s financial sector have complicated these procedures, creating obstacles for exporters in Iran and importers in Pakistan.
Trade flows in the opposite direction remain unaffected, with imports from Pakistan into Iran continuing, he adds.
Sanandaji cautions that Iranian shipments to Pakistan could remain effectively suspended if the banking restrictions are not eased.
Iran’s financial sector faces extensive US sanctions that limit transactions involving Iranian banks and may expose foreign financial institutions to punitive measures if they conduct business with sanctioned Iranian entities.
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