Share on LinkedInShare on LinkedIn

ARTICLE · 26 OCTOBER 2012

Iran and Syria: Recent Sanctions Update

Last week the European Union introduced further restrictive measures against Iran in light of Iran's failure to engage in negotiations to address deepening international concerns over the nature of its nuclear programme.

European UnionEnergy and Natural Resources

Iran

Background and Regulation Last week the European Union ("EU") introduced further restrictive measures against Iran in light of Iran's failure to engage in negotiations to address deepening international concerns over the nature of its nuclear programme.

These sanctions add to and amend Council Regulation No 267/2012, published on 23 March 2012 ("Regulation 267/2012"). As you will recall, Regulation 267/2012 prohibits:

(i) the import into the EU or the purchase or transport (worldwide) of crude oil, petroleum products or petrochemical products originating from or located in Iran;

(ii) the financing, financial assistance (including financial derivatives and insurance and reinsurance) relating to the import into the EU or the purchase or transport of crude oil, petroleum products or petrochemical products originating from or located in Iran; and

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

See more popular content from