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Thu 2 Apr 2015 11:28 AM

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Focus: The full breakdown of the sanctions imposed on Iran

Details of major sanctions imposed on Iran by the US, the EU and the UN over the years

Focus: The full breakdown of the sanctions imposed on Iran
(Getty Images)

International sanctions meant to deprive Iran's nuclear
programme of funds and technology are squeezing the country's vital oil
exports. Talks between Iran and major powers that could lead to an easing of
sanctions if successful are taking place in Lausanne, Switzerland.

Following are details of major sanctions imposed on Iran by
the United States, the European Union, and the United Nations over the years.

US SANCTIONS

- Initial sanctions were imposed after Iranian students
stormed the US embassy and took diplomats hostage in 1979.

- Under a US trade embargo dating back to then, Iranian
products cannot be imported into the United States, except for small gifts,
information material, food and some carpets.

- In 1995, President Bill Clinton issued executive orders
preventing US companies from investing in Iranian oil and gas and trading with
Iran. The same year, Congress passed a law imposing sanctions on foreign
companies investing more than $20 million a year in Iran's energy sector.

- Under current sanctions, Americans are prohibited from
trading directly or indirectly with Iran's oil sector, the Iranian government
and individuals connected to the oil sector or in any financing of it. US
companies are also barred from investing in Iran's oil and gas industries or
trading with them.

- US sanctions can also target foreign firms or people that
do business with Iran's energy sector, with some exceptions for countries that
are reducing their Iranian oil imports.

- US sanctions can also target financial institutions that
engage in transactions with a host of Iranian companies and government
agencies, including Iran's central bank, the Islamic Revolutionary Guard Corps,
the National Iranian Oil Co. and its subsidiary Naftiran Intertrade Co.

- Companies or individuals found to breach the sanctions
face significant fines, asset freezes, the risk of being cut off from the US
dollar banking system or potentially even be blacklisted themselves.

- Other US sanctions prohibit Americans from dealing with a
range of Iranian industries, including precious metals, shipping and port
operations.

- Some of the sanctions are tied to Iran's nuclear
activities, while others focus on what Washington deems to be human rights
abuses, support for terrorism or interference in Iraq or Syria.

(Sources: Reuters reporting and Congressional Research
Service)

EU SANCTIONS

The 28-nation European Union has gradually introduced
tighter sanctions against Iran since 2007 in response to concerns about Iran's
nuclear activities. They include:

- An export and import ban on arms.

- An export and import ban on goods and technology related
to nuclear enrichment or nuclear weapon systems.

- An export ban on materials relevant to the Iranian
nuclear, military and ballistic missile programmes or to industries controlled
by the Iranian Revolutionary Guard Corps.

- A ban on investment by Iranian nationals and companies in
uranium mining and production of nuclear material and technology within the EU.

- A ban on imports of crude oil, petroleum products and
natural gas from Iran as well as related finance and insurance. No oil or
petrochemical tankers may be supplied to Iran (measures dealing with insurance
and transport of Iranian crude oil suspended under interim nuclear deal between
six powers and Iran).

- A ban on imports of petrochemical products from Iran
(suspended under interim deal).

- An export and import ban on goods and technology that have
both military and civilian uses.

- An export ban on key equipment and technology for the oil,
gas and petrochemical industries in Iran.

- A ban on investment in the Iranian oil, gas and
petrochemical industries.

- No new commitments by EU member states for financial
support for trade with Iran.

- EU member states barred from giving new grants or
concessional loans to the government of Iran. Ban on providing insurance to the
Iranian government and Iranian companies (except health and travel insurance).

- Trade in gold, precious metals and diamonds with Iranian
public bodies and the central bank is prohibited (measure suspended for gold
and precious metals under the interim deal).

- No delivery of Iranian denominated banknotes and coins to
the Iranian central bank.

- A ban on financial transfers with Iranian banks, unless
specifically authorised in advance. Payments may be authorised in certain cases
such as for food and healthcare. (New authorisation thresholds apply under the
interim deal).

- A ban on Iranian banks opening branches or creating joint
ventures in the EU. EU financial institutions may not open branches or bank
accounts in Iran, either.

- A ban on the issuance of and trade in Iranian government
or public bonds with the Iranian government, central bank and Iranian banks.

- Cargo flights operated by Iranian carriers or coming from
Iran may not have access to EU airports.

- No flagging or classification services may be supplied to
Iranian oil tankers or cargo vessels.

- A ban on supplying key naval equipment for shipbuilding
and maintenance to Iran.

- Visa bans on people designated by the UN or associated
with Iran's nuclear activities or the development of nuclear weapon delivery
systems.

- An asset freeze on entities associated with Iran's nuclear
activities or the development of nuclear weapon delivery systems.

(Source: Adapted from EU factsheet)

UN SANCTIONS

- The Security Council has imposed four sets of sanctions on
Iran, in December 2006, March 2007, March 2008 and June 2010.

- The first covered sensitive nuclear materials and froze
the assets of Iranian individuals and companies linked with the nuclear
programme.

- The second included new arms and financial sanctions.

- The third, in 2008, increased travel and financial curbs on
individuals and companies. It expanded a partial ban on trade in items with
both civilian and military uses to cover sales of all such technology to Iran.

- A Security Council resolution passed on June 9, 2010,
called for measures against new Iranian banks abroad if a connection to the
nuclear or missile programmes was suspected. It expanded a UN arms embargo
against Tehran and called for the setting up of a cargo inspection regime.

- There are currently 43 individuals and 78 entities and
groups on the UN blacklist and subjected to a global travel ban and asset
freeze.