Staff writer, Al Arabiya English
Morocco has decided to suspend all bank transfers with Iran and to ban the import of carpets and raw materials, in response to the new US sanctions against Tehran.
This came in a document sent by the Ministry of Foreign Affairs and International Cooperation to Moroccan banks, warning them not to deal with Iranian assets and investments, after receiving a note from the US Embassy in Rabat on the new economic sanctions against Tehran.
The document which was shared with the Moroccan banking sector, details the dates of the US re-imposed sanctions on Iran and when it goes into effect against dealing with assets and investments of Iranian origin, and said the 90-day transitional period granted by the US administration ended on Monday, August, 6.
Last year, trade between Morocco and Iran amounted to more than $4 mln.
Morocco severed all diplomatic ties with Iran early May, because of its support for the Polisario Front, which seeks independence for Western Sahara.
Last Update: Saturday, 11 August 2018 KSA 22:09 – GMT 19:09
