India Declares Export of Prohibited Goods to Iran Free

The Indian government announced in a statement released on Wednesday, July 9, that it has lifted the ban on trading specific items with Iran. The statement adds that all prohibited export items based on United Nations Security Council resolutions have been lifted for Iran, and transactions will be conducted according to UN Security Council Resolution 2231. This resolution was approved last July after Iran and six world powers reached a nuclear agreement with a decisive majority of 15 votes in favor from all 15 members of the Security Council and came into effect in January of this year. This resolution had lifted all previous financial and punitive resolutions aimed at preventing Iran from acquiring nuclear weapons. According to Resolution 2231, the Security Council lifted all its financial, economic, and oil sanctions against Iran. Now, the Indian government states that the direct or indirect export of specific goods to Iran is free and can take place. India's reference to the provisions of Resolution 2231 also points to items that remain prohibited for trade with Iran for eight years, including the buying and selling of weapons and the sale of dual-use materials that require permission from the commission overseeing the implementation of the nuclear agreement at the UN. India is the second-largest oil customer of Iran and one of the five largest trading partners with Iran globally. According to customs statistics, India is the fifth-largest importer of Iranian goods, accounting for 7.5% of the value of Iran's non-oil exports this spring, which is a 6.5% increase compared to the same period last year. The Indian government's statement comes as the Pakistani newspaper 'Dawn' also reported on Wednesday, citing Khurram Dastgir Khan, the Minister of Commerce of Pakistan, that Islamabad is normalizing trade and banking interactions with Iran. According to him, Pakistan is exploring various ways to expand trade relations with Iran after the lifting of sanctions and has requested its central bank to provide practical ways to facilitate banking interactions with Iran within a month.