EU Implements Latest Iran Sanctions

January 31, 2013

On December 21, 2012, the Council of the European Union adopted Council Regulation No 1263/2012, which amends Regulation (EU) No 267/2012 (“Regulation 1263/2012”). Regulation 1263/2012 gives effect to the measures provided for in Council Decision 2012/635/CFSP of October 15, 2012 concerning additional restrictive measures against Iran (“Decision 2012/635”). Also on December 21, 2012, the Council adopted Council Decision 2012/829/CFSP amending Decision 2010/413, which concerns the freezing of funds and economic resources (“Decision 2012/829”). This decision was immediately implemented by Council Implementing Regulation (EU) No 1264/2012 (“Regulation 1264/2012”).