Canada is signalling its willingness to re-engage with Iran by lifting a broad ban on financial services, imports and exports, Foreign Affairs Minister Stéphane Dion announced today.

In a statement, Global Affairs Canada said it had amended its "broad-reaching autonomous sanctions against Iran to allow for a controlled economic re-engagement, including lifting the broad ban on financial services, imports and exports," and had also updated regulations to conform with recent changes to the United Nations sanctions regime.

The UN Security Council approved the lifting of sanctions last month after confirming that Iran had complied with promises it made under an international deal struck six months ago.

More to come