Global efforts are underway to isolate Iran by hampering trade relations as the country is suspected of developing its own nuclear weapons programme.

Väyrynen said Finland’s decision was in line with that of other EU members.

He added Finnish firms were granted a total of 75 export licenses to Iran during the past two years. Around ten applications had been rejected.

Two Finnish companies were on a list of companies published on Monday by The New York Times that had engaged in trade with both the United States and Iran.

Väyrynen emphasized the publicised sales by Nokia Siemens Networks to Iran had no connection to Finnish officials. The deal had taken place in Germany, he noted.