Australia Lifts Sanctions on Iran

Australia Lifts Sanctions on Iran

Australia has lifted some of the sanctions imposed on Iran as a response to its nuclear agreement with six world powers. According to the Department of Foreign Affairs and Trade (DFAT), many of the sanctions imposed in 2008, in the wake of its nuclear program have been lifted.

Under the new changes, Australian businesses will not have to seek prior approval for transactions above AU$20,000 when they deal with Iranian enterprises.

Some Australian sanctions on Iran will continue. They include non-nuclear sanctions on sensitive goods, arms and ballistic missiles and special sanctions against designated persons and entities, reports Reuters.