The Swiss Economics Ministry said the exception to the EU measures is made for the bank “due to its importance for the Iranian economy,” Reuters reported .
The Swiss government says it will make a decision on the European bloc's ban on the Iranian oil imports, purchase or shipping at a later date.
The Swiss Federal Council, however, decided to freeze the assets of eight companies and three individuals.
Switzerland does not directly import Iranian oil. Its stance on the matter, however, could impact the activities of the oil companies based in its trading hubs of Geneva and Zug.
While the sanctions have rattled world markets and increased oil prices, Iran says there has been no decline in its oil exports.
On January 23, the EU voted to impose an oil embargo on Iran and freeze the Central Bank’s assets in an effort to up pressure on Tehran to suspend its nuclear energy program.
The decision followed the imposition of similar sanctions by the United States on the Iranian energy and financial sectors on New Year’s Eve over accusations that Tehran is seeking a non-civilian diversion in its nuclear energy program.
Iran refutes the allegations, arguing that, as a committed signatory to the nuclear Non-Proliferation Treaty and a member of the International Atomic Energy Agency, it has the right to use nuclear technology for peaceful purposes.
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Switzerland says it will not follow the European Union in freezing the assets of Iran’s Central Bank and in imposing an oil embargo on the Islamic Republic.
News ID 181715
