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Written Question
Freezing of Assets: Iran
Thursday 17th March 2016

Asked by: Robert Jenrick (Conservative - Newark)

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what the value is of sanctioned Iranian assets that have been released by (a) UK Government and (b) other UK entities since the conclusion of the agreement with that country in May 2015.

Answered by Harriett Baldwin

I refer my Honourable friend to the written answer I gave on 10 March 2016 (Ref: 29924).


Written Question
Freezing of Assets: Iran
Thursday 17th March 2016

Asked by: Robert Jenrick (Conservative - Newark)

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what timetable the Government has set for the release of sanctioned Iranian assets; and what value of assets the Government expects to release in 2016 and 2017.

Answered by Harriett Baldwin

I refer my Honourable friend to the written answer I gave on 10 March 2016 (Ref: 29924).


Written Question
Freezing of Assets: Iran
Thursday 10th March 2016

Asked by: Robert Jenrick (Conservative - Newark)

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what the value is of sanctioned Iranian assets which have been released by the Government or any other entity within the UK since the conclusion of the Iranian agreement in May 2015.

Answered by Harriett Baldwin

Financial sanctions are implemented in the United Kingdom by HM Treasury. When assets are frozen they remain where they are held and are not seized or confiscated by the government or the Treasury. As such, the government does not hold frozen assets belonging to designated Iranian or other persons subject financial sanctions.

Every year the Treasury requests information from businesses on funds they hold that are frozen under financial sanctions legislation. The most recent data from September 2015 showed that there was approximately £728,450,000 of funds frozen under the Iran (non-proliferation) sanctions regime.

In July 2015 the EU/E3+3 and the Islamic Republic of Iran reached a Joint Comprehensive Plan of Action (JCPoA). On 16 January 2016 the initial sanctions relief provided for under the JCPoA came into effect. Part of this relief included the lifting of the asset freeze against certain individuals and entities with frozen balances of approximately £657,830,000. Therefore approximately £70,620,000 remains frozen.

The next phase of sanctions relief under the JCPoA is due on Transition Day in eight years’ time, or when the International Atomic Energy Agency has concluded that all nuclear material in Iran remains in peaceful activities, whichever is earlier.


Written Question
Freezing of Assets: Iran
Thursday 10th March 2016

Asked by: Robert Jenrick (Conservative - Newark)

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what estimate his Department has made of the value of sanctioned Iranian assets currently held by (a) the Government and (b) any other entity within the UK.

Answered by Harriett Baldwin

Financial sanctions are implemented in the United Kingdom by HM Treasury. When assets are frozen they remain where they are held and are not seized or confiscated by the government or the Treasury. As such, the government does not hold frozen assets belonging to designated Iranian or other persons subject financial sanctions.

Every year the Treasury requests information from businesses on funds they hold that are frozen under financial sanctions legislation. The most recent data from September 2015 showed that there was approximately £728,450,000 of funds frozen under the Iran (non-proliferation) sanctions regime.

In July 2015 the EU/E3+3 and the Islamic Republic of Iran reached a Joint Comprehensive Plan of Action (JCPoA). On 16 January 2016 the initial sanctions relief provided for under the JCPoA came into effect. Part of this relief included the lifting of the asset freeze against certain individuals and entities with frozen balances of approximately £657,830,000. Therefore approximately £70,620,000 remains frozen.

The next phase of sanctions relief under the JCPoA is due on Transition Day in eight years’ time, or when the International Atomic Energy Agency has concluded that all nuclear material in Iran remains in peaceful activities, whichever is earlier.


Written Question
Freezing of Assets: Iran
Thursday 10th March 2016

Asked by: Robert Jenrick (Conservative - Newark)

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what the Government's timetable is for the release of sanctioned Iranian assets; and what value of those assets the Government expects to release in 2016 and 2017.

Answered by Harriett Baldwin

Financial sanctions are implemented in the United Kingdom by HM Treasury. When assets are frozen they remain where they are held and are not seized or confiscated by the government or the Treasury. As such, the government does not hold frozen assets belonging to designated Iranian or other persons subject financial sanctions.

Every year the Treasury requests information from businesses on funds they hold that are frozen under financial sanctions legislation. The most recent data from September 2015 showed that there was approximately £728,450,000 of funds frozen under the Iran (non-proliferation) sanctions regime.

In July 2015 the EU/E3+3 and the Islamic Republic of Iran reached a Joint Comprehensive Plan of Action (JCPoA). On 16 January 2016 the initial sanctions relief provided for under the JCPoA came into effect. Part of this relief included the lifting of the asset freeze against certain individuals and entities with frozen balances of approximately £657,830,000. Therefore approximately £70,620,000 remains frozen.

The next phase of sanctions relief under the JCPoA is due on Transition Day in eight years’ time, or when the International Atomic Energy Agency has concluded that all nuclear material in Iran remains in peaceful activities, whichever is earlier.


Written Question
Economic Policy
Tuesday 16th June 2015

Asked by: Robert Jenrick (Conservative - Newark)

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what progress he has made on his long-term economic plan.

Answered by Harriett Baldwin

The government’s long term plan is working: with the UK the fastest growing economy in the G7 last year and the deficit more than halved as a share of GDP. There are more people in work than ever before, unemployment is falling and wages are continuing to rise well above inflation. But the job is not yet done and the government will continue working through the plan to build a resilient British economy and a truly national recovery.


Written Question
Economic Policy
Tuesday 10th March 2015

Asked by: Robert Jenrick (Conservative - Newark)

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what recent progress he has made on his long-term economic plan.

Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)

The government’s long-term economic plan is working: the UK grew faster in 2014 than any other G7 country, the deficit is forecast to have halved as a share of GDP in 2014-15, and there are record numbers of people in work. But the job is not yet done and the biggest risk now to the recovery would be abandoning the plan that is delivering a brighter economic future.