Iran Sanctions - Customs Sanctions Notices
On 31st May 2012 the European Union (Iran Sanctions) (Proliferation) Order 2012 [SD 427/12] and Iran Sanctions (Proliferation) Regulations 2012 [SD 428/12] came into operation.
The Order applies in Island law Council Regulation (EU) No 267/2012 of 23rd March 2012 and means that as of 4 pm on 31st May Island law and the sanctions restrictions imposed on Iran are more closely aligned with those in force in the United Kingdom.
The controls now in force in the Island include the following prohibitions –
• on the import from Iran of crude oil, petroleum products, petrochemical products, gold, precious metals and diamonds;
• on the import of dual-use goods and technology;
• on the purchase, transport or finance directly or indirectly or certain oil and petroleum products (with a derogation until 1st July 2012 for contracts concluded before 23rd January 2012);
• on the supply of certain key equipment for the oil, gas and petrochemical industry (or directly or indirectly providing technical assistance or brokering services);
• on the export to Iran of certain dual-use goods and technology, gold, precious metals and diamonds, new or unissued Iranian banknotes or coins.
There continue to be restrictions on the transfer of funds to or from the State of Iran or any public authority, any natural person in Iran or resident there, and any legal person, entity or body having its registered office there. Such transfers above certain thresholds must be either notified to, or have prior authorisation from, the Treasury.
The financial and economic sanctions, including an asset freeze and a prohibition on making funds and other economic resources available to named persons and entities, continue to apply. The subsequent changes made by Council Implementing Regulation (EU) No 351/2012 to the lists of those affected by these sanctions imposed under Regulation 267/2012 also apply automatically from 31st May.
A revised version of Sanctions Notice 24 will be placed on the Customs and Excise website in due course.
Further information about the sanctions imposed by the EU on Iran because of concerns over its nuclear programme may be found on HM Treasury's web site.
For more information contact the Sanctions Officer.
1st June 2012
|Isle of Man Customs Division|
PO Box 6
Isle of Man
|Post Code:||IM99 1AG|