25 senior representatives of Iran’s largest private mining companies are in the UK for a week long delegation aimed at fostering business between the two countries. Iran has 7% of the world’s mineral reserves and potential for significant investment opportunities by foreign investors.
Yesterday former Chancellor of the Exchequer, Lord Lamont of Lerwick, made the welcome address to the delegation at the DIT offices in Whitehall. Lord Lamont said the UK considers the 12 year negotiations with Iran as worthwhile and the UK Government is strongly encouraging British banks to facilitate Iran-related transactions.
Head of our Iran desk, Azadeh Meskarian was invited to speak after Lord Lamont on the legal issues of UK-Iran business dealings, especially in light of added uncertainty after the US recently pulled out of the Joint Comprehensive Plan of Action.