Global Trade Alert

On 8 November 2012, the Islamic Republic of Iran announced a ban on over 70 types of foreign luxury goods. According to a state-run newspaper Iran Daily, the ban was imposed to save billions of dollars for essential products given the increased sanctions against the country.
The Deputy Minister of Industries, Mines and Commerce, Hamid Safdel, said that the ban could be removed from goods that are not produced domestically (like mobile phones and computers).