Snapshot Summary Of EU Sanctions On Iran

Ban On The Import, Purchase And Transport Of Iranian Crude Oil And Petroleum Products – Including Financing And Insuring, Directly Or Indirectly. However: Contracts Already Concluded May Be Executed Until 1st July 2012; Contracts Already Concluded Which Call For Iranian Crude Oil And Petroleum Products To Be Supplied For Reimbursement Of Outstanding Amounts May Be Executed – Including After 1st July 2012; And A Review Of The Measures Will Take Place Before 1st May 2012. Ban On The Import, Purchase And Transport Of Iranian Petrochemical Products – Including Financing And Insuring, Directly Or Indirectly. However: Contracts Already Concluded May Be Executed Until 1st May 2012; Contracts Already Concluded Which Call For Iranian Petrochemical Products To Be Supplied For Reimbursement Of Outstanding Amounts May Be Executed – Including After 1st May 2012; Ban On The Sale, Supply Or Transfer Of Key Equipment And Technology For The Petrochemical Industry In Iran Or To Iranian Or Iranian Owned Enterprises Outside Iran – Including Technical Assistance Or Training And Other Related Services, Or Financing Related To It. However: Contracts Already Concluded For The Sale, Supply, Or Transfer Of Such Equipment May Be Executed. Ban On New Investments In Petrochemical Companies In Iran And Related Joint Ventures. However: Obligations Prior To 26 July 2010 May Be Executed. Additional Asset Freeze On 3 Individuals And 8 Entities (Including Bank Tejarat And Tidewater Middle East Company). However: For A Period Of 2 Months From 24th January 2012, Payments To And From Bank Tejarat May Be Authorised On A Case By Case Basis By Member States So Long As The Payment Is Not Received Directly Or Indirectly By An Entity Subject To The Asset Freeze. Assets Of The Central Bank Of Iran In The EU Are Frozen. However: Transfers May Be Authorised On A Case By Case Basis By Member States For Specific Trade Contracts So Long As No Other Sanctioned Bank Is Involved And No Person Or Entity Subject To The Asset Freeze Will Receive The Monies. Ban On Direct Or Indirect Sale, Purchase, Transportation Or Brokering Of...