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Legal Briefing
Sanctions against Iran - new EU regulations
Practice Area: Oil
Sector: Business services
Jurisdiction: European Union
Published: 12 November 2010
Law Firm: Barlow Lyde & Gilbert
Overview
A new European Union Regulation, in force throughout the EU from 27 October, imposes enhanced restrictions on the dealings of EU citizens and companies with Iran/Iranian companies and entities.
The Regulation replaces EU Regulation 423/2007 and stands alongside the existing US, UN and various national sanctions against Iran and the existing anti-terror and anti-money laundering legislation.
In this briefing, Barlow Lyde & Gilbert sets out some of the measures introduced by Regulation 961/2010, including prohibited activities relating to oil and gas, insurance/reinsurance and transport.
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