Sanctions against Iran
On Implementation Day 16 January 2016 the relaxations of sanctions against Iran entered into force. Among other things it is now permitted to export most of the dual-use products listed in the control list to Iran and to resume ordinary banking relations with Iran, incl. transfers of funds without prior notification or authorisation.
Regulations 2015/1861 and 2015/1862, which were adopted on 18 October 2015, entered into force on 16 January 2016. The Regulations amend Regulation 267/2012 and describe the relaxations of the sanctions.
Administration of the sanctions
The sanctions against Iran are administered by several authorities in Denmark. The Danish Business Authority is responsible for the administration of the points set out below:
- Dual-use items
- Asset freezing
- Graphite and metals
- Items listed in Annex I, II, VIIA and VIIB to Regulation 2015/1861 prior to export
- Technical assistance or brokering services related to goods and technology listed in Annex I, II, VIIA and VIIB to Regulation 2015/1861 prior to export
- Purchase, import or transport of products from Iran of items listed in Annex I or II Regulation 2015/1861
IMPORTANTRemember the general export control rules. I.e. that you must apply for an export license to export items listed in the or apply for an export license according to the catch-all provisions, cf. Article 4, para 1 and 2, in the dual-use Regulation No. 428/2019 with subsequent amendments.
- Export to Iran of items listed in Annex III to Regulation 2015/1861
- Purchase, import or transport of products from Iran of items listed in Annex III to Regulation 2015/1861
- Technical assistance or brokering services related to goods and technology listed in Annex III to Regulation 2015/1861
On Implementation Day many persons and entities, incl. several Iranian banks and the Central Bank of Iran, were removed (de-listed) from Annexes VIII and IX to Regulation 267/2012. You can find the names of the de-listed persons and entities listed in the Annex to Regulation 2015/1862.
On 23 January 2016 Bank Sepah was de-listed as well according to Regulation 2016/74 (pdf).
However, please note that a number of persons and entities continue to be subject to freezing.
By using the EU's database on financial sanctions you can check if your costumers are subject to freezing.
A breach of Council Regulation (EU) No 267/2012 as amended may involve criminal liability under the provisions of section 110 c of the Danish Criminal Code.
Under section 110 c (3), cf. (2) of the Danish Criminal Code, offences are punishable by a fine or imprisonment of up to four months or, in aggravating circumstances, by imprisonment of up to four years. Offences of negligence are punishable by a fine or imprisonment of up to two years.