To ask the Chancellor of the Exchequer pursuant to the answer of 9 March 2009, Official Report, column 101W, on banks: Iran, if he will place in the Library a copy of the advisory notice issued to all businesses on transactions with Iran. (270552)

The advisory notice issued on 11 March 2009 is available on the HM Treasury website at:

www.hm-treasury.gov.uk/press_26_09.htm

I am arranging for a copy to be placed in the Library.

To ask the Chancellor of the Exchequer what the amount of assets frozen in the United Kingdom is under the EU and UN sanctions on Iran; and if he will make a statement. (270651)

All funds belonging to, owned, held or controlled by individuals or entities designated under EU and UN sanctions on Iran are required to be frozen in the UK. The Iran (Financial Sanctions) Order 2007 and the Iran (European Community Financial Sanctions) Regulations 2007 give legal effect to the EU and UN measures in the UK and include a requirement for all UK persons to report frozen funds they hold to HM Treasury.

There is a significant amount of funds frozen in the UK under the EU and UN sanctions against Iran, as these measures have frozen the assets of Bank Sepah Iran and Bank Melli Iran, including their London-based subsidiaries, Bank Sepah International plc and Melli Bank plc.

Given the number of entities involved it would not be appropriate to set out the total amount of funds frozen under UN and EU sanctions. To do so would breach considerations of commercial confidentiality.