Governor of the Islamic Republic of Iran Customs Administration says recent unilateral sanctions imposed by Britain on Iran's banking and financial sector will have no effect on the country's overall trade volume.

Abbas Me'marnejad said that during the first eight months of the current Iranian year (Starting from March 21), imports from the UK accounts for only 0.3 percent of Iran's total imports.

The official went on to say that Iran's non-oil exports to Britain have added up to USD 20 million during the same months.

“Since Iran's non-oil exports totaled USD 27.4 billion in that period, the share of this country [Britain] from Iran's non-oil exports stands at 0.07 percent,” he added.

Me'marnejad concluded that Britain is 51st among Iran's foreign trade partners in the area of non-oil exports.

Britain imposed new sanctions on Iran's banking system and energy sector after Director General of International Atomic Energy Agency, Yukiya Amano, released his latest report on November 8, accusing Iran of pursuing a clandestine nuclear weapons program.

Chancellor of the Exchequer of the United Kingdom George Osborne said on Monday, November 21, that the White Hall was terminating all contacts between the UK's financial system and the Iranian banking system.

Speaking through a statement, he said, "All UK credit and financial institutions are required to cease business relationships and transactions with all Iranian banks, including the Central Bank of Iran.”

Washington also imposed new sanctions on Iran's oil and petrochemical industry and the Iranian companies supplying Tehran's nuclear program on the same day.

The new unilateral measures came after a failed attempt by the US and its allies to take Iran's case to the UN Security Council. 

(Source: PressTV)