UK-US Trade: Iran Sanctions

Debate between Lord Dubs and Baroness Fairhead

Wednesday 16th May 2018 Lords Chamber

[Lord Dubs]

To ask Her Majesty’s Government what advice they have given to British companies about the possible impact on their trade with the United States of the imposition of United States sanctions on Iran.

[The Minister of State, Department for International Trade (Baroness Fairhead)]

My Lords, the UK continues to encourage UK businesses to take advantage of trade opportunities in Iran and the US. The Government have updated their services for doing business in Iran on GOV.UK. The UK remains party to the JCPOA, and the UN-EU sanctions on Iran continue to be lifted to allow UK businesses to operate in Iran. We are working with our European partners to explore potential options for protecting UK and European interests.

[Lord Dubs (Lab)]

I am grateful to the Minister. Will she confirm that the Government will not allow British companies to be bullied by the American Administration, the more so that, if that bullying were to succeed, it would totally undermine the nuclear deal with Iran?

[Baroness Fairhead]

My Lords, the UK is absolutely committed to the JCPOA, the nuclear deal with Iran. We are trying to work with the US to ensure that links with Iran can continue so that the UK and other international parties to the deal are able to allow Iran to get the benefits of the lifting of economic sanctions, so that it can see the benefits of maintaining the nuclear deal. We are also working with Iran, with the E3 and the European External Action Service, to try to work out how we can ensure that Iran sees continued benefit. We are committed to maintaining the deal because we think it is critical for the safety of the world.