Written question asked by Austin Mitchell (Labour) on Tuesday, 6 February 2007, in the House of Commons. It was due for an answer on Thursday, 8 February 2007. It was answered by Ed Balls (Labour) on Monday, 19 February 2007 on behalf of the Treasury.

Bank Sepah International

Question: To ask the Chancellor of the Exchequer if he will make a statement on the decision by the US Administration to impose sanctions on the UK-based Bank Sepah International.

Answer: Decisions by the US Administration to impose financial sanctions under their domestic legislation are a matter for the US Administration.As set out in my statement to Parliament on 7 February, following the adoption by the United Nations Security Council of Resolution 1737, the Government have introduced Orders in Council under the United Nations Act 1946, which implement in the UK the financial sanctions elements of Resolution 1737 and implement the provisions of Resolution 1737 in the UK's overseas territories. The Government are strongly supportive of international efforts in tackling abuse of financial systems and these actions are further evidence of this.

Secondary information