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ARTICLE · 07 JANUARY 2013

Implementation Of Enhanced EU Sanctions Targeting Iran

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On December 21, 2012, the Council of the European Union adopted two regulations enhancing the EU Iran sanctions.

European UnionInternational Law
Edward Krauland
Edward Krauland
Anthony Rapa
Anthony Rapa
Meredith Rathbone
Meredith Rathbone
Julia Ryan
Julia Ryan
Maury Shenk
Maury Shenk
Guy Soussan
Guy Soussan

On December 21, 2012, the Council of the European Union adopted two regulations enhancing the EU Iran sanctions.  Although the EU sanctions still stop short of a comprehensive embargo, they have become an extremely complicated and far-ranging regime that affects a very wide variety of Iran-related activities.

Council Regulation 1263/2012, the main regulation adopted, implements the new Iran sanctions that the Council adopted in October 2012 under Council Decision 2012/635/CFSP.  That decision, which we have previously summarized in detail, significantly strengthened the EU Iran sanctions by prohibiting: 

  • Transactions between EU financial institutions and Iranian banks and other financial entities without approval by the competent authority of a Member State

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