Luxembourg, 15/10/2012 (Agence Europe) - On Monday 15 October, the Foreign Affairs Council strengthened its sanctions against Iran appreciably because of Iran's nuclear programme.
The ministers decided on banning in principle all financial transactions between European and Iranian banks. Exemptions are possible on a case by case basis and with prior authorisation from national authorities - for example for transactions between private individuals, for humanitarian aid, and for purchases of food or medicine. The EU is also strengthening sanctions against Iran's central bank. Already banned for the medium and long term, guarantees, insurance and new export credits are also now banned for the short term.
The member states will now no longer be able to export materials which could serve the nuclear or ballistic programme, or industries controlled by the Iranian Revolutionary Guard Corps. Raw and semi-finished metals (for example aluminium and steel), graphite, and software for integrating industrial processes are also banned. This ban also concerns related technical or financial assistance.
The measures also affect maritime transport. Ships belonging to Europeans will no longer be able to be used for the transport or storage of Iranian oil and petro-chemical products. European businesses can no longer participate in the construction of new Iranian oil tankers, nor deliver key equipment and technology for ship building and maintenance. Flagging and classification services are also banned.
The import, purchase and transport of natural gas from Iran are also banned, as are financing and insurance linked to these activities. In addition, the Council broadened the ban on exporting key equipment related to the Iranian oil, gas and petro-chemical industries.
The EU has also decided to freeze the assets of 34 new entities that are active in the oil, gas and finance sectors, and a person involved in the nuclear programme will also have an assets freeze and a travel ban.
The Council still has to adopt - on the Commission's proposal, which it will submit as quickly as possible -implementing legislation that will define precisely which items are covered by the export bans.
Dual-track approach. In its conclusions, the Council recalls its concerns and the urgent need for Tehran to conform to its international obligations, and the Council condemns the continued production of enriched uranium and the expansion of Iran's enrichment capacity. It also notes with concern Tehran's obstruction to the International Atomic Energy Agency's work.
These restrictive measures come as part of the dual-track approach to Iran's nuclear programme. They are “meant to persuade Iran to engage constructively by negotiating seriously and addressing the concerns of the international community”, the Council says. It adds that it remains determined to increase pressure as part of the dual track approach. Ahead of the Council, High Representative of the EU for Foreign Affairs and Security Policy Catherine Ashton said she was convinced there was still room for negotiations, and hoped that progress would soon be made. (CG/transl.fl)