On 23 January 2012 The European Union Foreign Affairs Council agreed to introduce further measures impacting on trade that would or could support the furtherance of the Government of Iran’s nuclear aspirations. Specifically the Council has introduced new measures to prohibit the trade and transportation of crude oil, petroleum products and petrochemical products. The new measures were set out in Council Decision 2012/35.
On 23 March 2012 the Council issued Regulation 267/2012 implementing the provisions of the Decision 2012/35 and repealing Regulation 961/2010.
The Group has been in further discussion with the UK Treasury and has received feedback on a number of common areas of enquiry from members and has updated the FAQs issued on 29 March.