Iran - New Sanctions announced by the Foreign Minister on 29 July 2010
Targeted Financial Sanctions and Travel Bans
The Minister for Foreign Affairs has designated 98 entities to be subject to targeted financial sanctions and 12 individuals to be subject to targeted financial sanctions and travel sanctions.
Of these, 18 entities and 3 individuals have been added to the consolidated list of entities subject to UN Security Council (UNSC) sanctions, under the Charter of the United Nations (Sanctions – Iran) 2008 (the Iran Regulations). These are entities that are owned or controlled by, or act on behalf or at the direction of UNSC listed entities.
A further 80 entities and 9 individuals, which contribute to Iran’s proliferation sensitive nuclear or missile programs, or assist Iran to violate UNSC Resolutions, will be designated under the Banking (Foreign Exchange) Regulations 1959. This has the effect of restricting certain financial transactions with these entities and individuals. The individuals will also be subject to travel sanctions.
Restrictions on business with proliferation-sensitive sectors
Pursuant to UNSC Resolution 1929, the Iran Regulations now prohibit giving Iran or an Iranian person or entity an interest in any commercial activity involving uranium mining or the production or use of nuclear or missile-related materials and technology.
The Iran Regulations also ensure persons within Australia’s jurisdiction exercise vigilance when doing business with Iran to ensure their business does not contribute to Iran’s proliferation-sensitive or sanctions-evading activities. They do this by providing for the Foreign Minister to specify entities that would pose such a risk, or which operate in sectors where the UNSC has indentified such a linkage.
The Foreign Minister has specified entities that will be subject to targeted restrictions in five sectors where the UNSC has indentified a proliferation or sanctions-evasion risk: entities linked to Iran’s nuclear and missile programs; entities linked to the Islamic Revolutionary Guard Corps; transportation sector entities; financial entities; and oil and gas sector entities. Australians will be prohibited from dealing with specified entities (and also entities acting on their behalf, at their direction, or owned or controlled by them) without a permit.
The Specified Entities List may be downloaded here:
If you are already engaged in business with an entity on this list you have until Friday 3 September 2010 to apply for a permit to continue that business.
Prohibition on sale or supply of certain goods and services
The range of goods and services prohibited for supply to Iran under the Iran Regulations has been expanded to include any items, or related services, that could contribute to Iran’s nuclear or missile programs, as well as heavy military equipment. In addition, the Iran Regulations now prohibit the transfer of technology or technical assistance to Iran related to ballistic missiles. They also prohibit the provision of bunkering services for Iranian vessels without prior authorisation from the Foreign Minister.
Australia has decided to extend the ban on supplying to Iran nuclear and missile related dual use goods required by the UNSC to include items on the Australia Group control lists related to chemical and biological weapons program. Australia has also extended the arms embargo imposed by the UNSC on Iran to apply to all arms and related materiel, and to include all items on the Wassenaar Arrangement conventional weapons control list.