Regulation 2012/267 - Restrictive measures against Iran

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1.

Current status

This regulation has been published on March 24, 2012 and entered into force on the same day.

2.

Key information

official title

Council Regulation (EU) No 267/2012 of 23 March 2012 concerning restrictive measures against Iran and repealing Regulation (EU) No 961/2010
 
Legal instrument Regulation
Number legal act Regulation 2012/267
Original proposal JOIN(2012)2 EN
CELEX number i 32012R0267

3.

Key dates

Document 23-03-2012
Publication in Official Journal 24-03-2012; OJ L 88, 24.3.2012,Special edition in Croatian: Chapter 18 Volume 004
Effect 24-03-2012; Entry into force Date pub. See Art 51
End of validity 31-12-9999

4.

Legislative text

24.3.2012   

EN

Official Journal of the European Union

L 88/1

 

COUNCIL REGULATION (EU) No 267/2012

of 23 March 2012

concerning restrictive measures against Iran and repealing Regulation (EU) No 961/2010

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 215 thereof,

Having regard to Council Decision 2012/35/CFSP of 23 January 2012 amending Decision 2010/413/CFSP concerning restrictive measures against Iran (1),

Having regard to the joint proposal from the High Representative of the Union for Foreign Affairs and Security Policy and the European Commission,

Whereas:

 

(1)

On 25 October 2010, the Council adopted Regulation (EU) No 961/2010 on restrictive measures against Iran and repealing Regulation (EC) No 423/2007 (2), in order to give effect to Council Decision 2010/413/CFSP (3).

 

(2)

On 23 January 2012, the Council approved Decision 2012/35/CFSP providing for additional restrictive measures against the Islamic Republic of Iran (‧Iran‧) as requested by the European Council on 9 December 2011.

 

(3)

Those restrictive measures comprise, in particular, additional restrictions on trade in dual-use goods and technology, as well as on key equipment and technology which could be used in the petrochemical industry, a ban on the import of Iranian crude oil, petroleum products and petrochemical products, as well as a prohibition of investment in the petrochemical industry. Moreover, trade in gold, precious metals and diamonds with the Government of Iran, as well as the delivery of newly printed banknotes and coinage to or for the benefit of the Central Bank of Iran, should be prohibited.

 

(4)

Certain technical amendments to existing measures have also become necessary. In particular, the definition of "brokering services" should be clarified. In cases where the purchase, sale, supply, transfer or export of goods and technology or of financial and technical services may be authorised by a competent authority no separate authorisation of related brokering services will be required.

 

(5)

The definition of "transfers of funds" should be broadened to non-electronic transfers so as to counter attempts at circumventing the restrictive measures.

 

(6)

The revised restrictive measures concerning dual-use goods should cover all goods and technology set out in Annex I to Council Regulation (EC) No 428/2009 of 5 May 2009 setting up a Community regime for the control of exports, transfer, brokering and transit of dual-use items (4), with the exception of certain items in Part 2 of category 5 thereof in view of their use in public communication services in Iran. However, the prohibitions in Article 2 of this Regulation do not apply to the sale, supply, transfer or export of goods and technology newly listed in Annex I or II of this Regulation for which an authorisation has already been granted by the competent authorities of the Member States pursuant to Article 3 of Regulation (EU) No 961/2010 prior to the entry into force of this Regulation.

 

(7)

In order to ensure the effective implementation of the prohibition on the sale, supply, transfer or export to Iran of certain key equipment or technology which could be used in the key sectors of the oil, natural gas and petrochemical industries, lists of such key equipment and technology should be provided.

 

(8)

For the same reason, lists of items subject to trade restrictions on crude oil and petroleum products, petrochemical products, gold, precious metals and diamonds should also be provided.

 

(9)

In addition, to be effective, restrictions on investment in the Iranian oil and gas sector should cover certain key activities, such as bulk gas transmission services for the purpose of transit or...


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This text has been adopted from EUR-Lex.

5.

Original proposal

 

6.

Sources and disclaimer

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