Latest news
European Union strengthens Sanctions Regulations for IRAN:latest regulations
The European Union (EU) strengthens Sanction on IRAN: 15 October 2012
Council Regulation (EU) No 945/2012 of 15 October 2012 in respect of the restrictive measures directed by the Council of the European Union against Iran is issued with effect from 16 October 2012. Given the EU's serious and deepening concerns over Iran's nuclear programme, the Council today significantly broadened EU restrictive measures against Iran.
The objective of the EU remains to achieve a comprehensive, negotiated, long-term settlement which restores international confidence in the exclusively peaceful nature of the Iranian nuclear programme, while respecting Iran's legitimate right to the peaceful use of nuclear energy under the Non Proliferation Treaty.
the Council took further measures to ensure that EU financial institutions do not process funds that could contribute to Iran's nuclear programme or to the development of ballistic missiles. Therefore it prohibited all transactions between European and Iranian banks, unless they are explicitly authorised in advance by national authorities under strict conditions. Under these conditions, authorised trade can continue. In addition, the Council has decided to strengthen the restrictive measures against the Central Bank of Iran.
The Council also banned the export to Iran of further materials relevant to the Iranian nuclear and ballistic programmes or to industries controlled by the Iranian Revolutionary Guard Corps. This concerns in particular graphite, raw or semi-finished metals, such as aluminium and steel, as well as software for integrating industrial processes. The prohibition also includes related technical or financial assistance. The Council also banned the import of natural gas from Iran into the EU. This concerns import, purchase and transport of gas, as well as finance and insurance related to these activities.
In addition, the Council agreed to broaden the existing export ban on key equipment for the Iranian oil, gas and petrochemical industries. Implementing legislation, which the Council still has to adopt, will define precisely which items are covered by the export bans.
COUNCIL DECISION 2012/635/CFSP of 15 October 2012 amending Decision 2010/413/CFSP concerning restrictive measures against Iran
