The Iran (Restrictive Measures) (Overseas Territories) Order 2012

EXPLANATORY NOTE

(This note is not part of the Order)

This Order gives effect in specified Overseas Territories to the measures adopted by the European Union in Council Decision 2010/413/CFSP, as amended by Council Decision 2012/35/CFSP, and implemented by Council Regulation (EU) No. 267/2012 (the Regulation), which incorporated the provisions of United Nations Security Council Resolutions 1737 (2006), 1747 (2007), 1803 (2008) and 1929 (2010), and applied additional restrictive measures in relation to Iran’s nuclear proliferation and missile technology programmes.

The main provisions of the Council Decision and Regulation are: a prohibition on the supply of arms to, or purchase of arms from, Iran; a prohibition on the sale or supply of goods and technology which could contribute to Iran’s proliferation activities; a prohibition on providing assistance or financing in relation to prohibited goods; a prohibition on the importation or transportation of oil from Iran; a prohibition on the importation or transportation of petrochemical products from Iran; a prohibition on financing any Iranian person or entity engaged in certain nuclear-related activities; a prohibition on supplying equipment to any Iranian person or for use in Iran for the exploration and production of oil or gas, or for use in the petrochemical industry in Iran; a prohibition on the sale or purchase of gold, precious metals or diamonds to or from Iran; a prohibition on the supply of newly printed banknotes and coins to Iran; restrictions on financial transactions to or from Iranian persons or entities; a prohibition on the purchase of Iranian bonds.

This Order revokes the Iran (United Nations Measures) (Overseas Territories) Order 2007 and the Iran (United Nations Measures) (Overseas Territories) (Amendment) Order 2007.