On 1 December 2011, the Council of the European Union (EU) – in Council Decision 2011/783/CFSP1 – added entries to its list of designated parties under the Iran sanctions regime. This Decision was published in the EU’s Official Journal of 2 December 2011, with accompanying Council Implementing Regulation 1245/2011 (which amends the EU’s original Iran Sanctions Regulation, Regulation 961/2010, and has entered into force on that date).2
For a description of the features of the EU’s original Iran Sanctions Regulation (i.e. Regulation 961/2010),3 which previously has been amended by Regulation 503/2011,4 see our alert from 29 October 2010.
Regulation 1245/2011 adds 180 Iranian and non-Iranian persons and entities considered involved in nuclear or ballistic missiles activities, or affiliated with the Islamic Revolutionary Guard Corps (IRGC) or Islamic Republic of Iran Shipping Lines (IRISL), to the EU’s list of parties subject to an asset freeze featured in Annex VIII to Regulation 961/2010. As a result, parties subject to EU jurisdiction must not make funds or economic resources directly or indirectly available to or for their benefit. In addition, the new Regulation amends certain entries of designated parties involved in nuclear or ballistic missiles activities or affiliated with IRISL already featured in Annex VIII.
In its conclusions adopted on 1 December 2011, the Council reiterated its “serious and deepening concerns over the nature of Iran’s nuclear programme”5 while agreeing to the above described new sanctions measures. In addition, the Council promised to further broaden the EU’s Iran sanctions regime by developing and adopting new measures aimed at severely affecting the Iranian financial system, transport and energy sectors, the IRGC and other areas. Accordingly, additional new EU sanctions measures against Iran could be expected in the near future.