As we expected in our earlier video the EU and the UK reintroduced sanctions against Iran which were suspended in 2016. The sanctions are related to Iran’s nuclear programme. These are very substantial restrictions profoundly changing legal regulation relevant for dealing with Iran out of these jurisdictions. The sanctions are relevant for (among others) oil and gas, financial, petrochemical, metals, shipping, and transport sectors of Iran economy. They also reduce the JCPOA to history.
Given these substantial developments, we recorded a short video where we summarise main restrictions which are now in effect and are relevant when dealing with these sectors of Iranian economy.
The EU regulations setting out the new sanctions regime are available here (main amending regulation), here, and here (two implementing regulations which up-date two lists of persons subject to blocking sanctions in the EU).
For the explanation of the events which preceded this development as well as for further information on various sanctions regimes relevant for dealing with Iran, please see our video discussing these questions.