The EU has published the implementing regulations covering its tough
new sanctions against Iran. The sanctions impose a near-total embargo on
financial transactions with Iran, covering all banks, including the Central
Bank of Iran.
The sanctions also cover the entire oil and gas industry. The targets
include the National Iranian Oil Company (NIOC) and its 20 subsidies, the
Naftiran oil trading company and all its subsidies, the National Iranian Gas
Company, the National Iranian Oil Refining and Distribution Company, and the
National Iranian Tanker Company.
The Minister of Energy Majid Namjoo was added to the EU list of individuals
subject to restrictive measures. The new sanctions also cover the Ministries of
Petroleum and Energy.
To read the text of EU implementing regulations, please click here.
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