Financial Secretary to the Treasury, Mark Hoban, moved a Statutory Instrument in the House of Commons on Tuesday 13 December on restrictions on the Iranian banking sector.
Prevention of nuclear proliferation
The Financial Restrictions (Iran) Order 2011 (S.I., 2011, No. 2775) contains restrictions requiring UK credit and financial institutions to cease business relationships and transactions with all banks operating in Iran, including their branches and subsidiaries, and with the Central Bank of Iran.
The Government made the order because of the serious concerns about activity in Iran that facilitates the development or production of nuclear weapons.
On Tuesday 29 November the British Embassy in Tehran was vandalised and looted. In response, the British Government announced the closure of the Iranian Embassy in London and that all Iranian diplomatic staff leave the United Kingdom.
Shadow Minister for the Treasury, Chris Leslie, responded in the debate on behalf of the Opposition.
Watch and read the debate and the views expressed by MPs on Parliament TV and in Commons Hansard. Also find current parliamentary material on Iran in the Topics and News sections.
Debates are an opportunity for MPs to discuss government policy, proposed new laws and current issues. It allows MPs to voice the concerns and interests of their constituents.