🔸The UK government announced that it will not renew exemptions that would enable Iranian banks to operate in London; a decision that could effectively lead to the cessation of the National Bank of Iran’s branch activities in London.

🔸The Wall Street Journal reported that the UK license for the National Bank of Iran’s branch must be renewed next month, and the revocation of the exemptions could prevent it from continuing its operations.

🔸The decision was announced following a trip by Jonathan Brec, U.S. Treasury Department Under Secretary for Terrorist Financing, to London and his meetings with officials from the UK Foreign Office and Treasury.

🔸In recent weeks, Washington has increased pressure on Iran’s business partners: the UAE has limited activities related to the National Bank of Iran’s branch, and Turkey has also revoked the license for the Bank Melli branch.