Canada lifted most economic sanctions against Tehran on February 5 to allow
Canadian firms to start competing for Iran's business.
Ottawa, which was not a party to Iran's nuclear deal with world powers but
has praised the deal, said it would maintain restrictions only on nuclear
technology exports and sales related to ballistic-missile development.
"Canadian companies will now be able to position themselves for new
trade opportunities, but we will also maintain rigorous controls on any exports
that raise serious proliferation concerns," Trade Minister Chrystia
Freeland said.
Ottawa has also offered to restore diplomatic relations with Tehran, which
were severed in 2012.
At the time, the previous conservative government criticized the Islamic
republic's support for Syrian President Bashar al-Assad's regime, its
"incitement to genocide" against Israel, and its leaders' failure to
account for their nuclear program.
Ties were also strained by Tehran's jailing of Iranian-born
Canadians.
In 2013, Ottawa imposed a near-total trade embargo on Iran that included
economic sanctions and travel restrictions. Canada's exports to Iran fell to
$48 million in 2014 from a peak of $556 million in 1997.
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