Joint Proposal for a COUNCIL REGULATION amending Regulation (EU) No 267/2012 concerning restrictive measures against Iran
Date: 2012-11-07
Institutions: European Commission, High Representative of the Union
Subjects: Iran, economic sanctions, international sanctions, trade restriction

EUROPEAN 
COMMISSION 

HIGH REPRESENTATIVE OF THE
EUROPEAN UNION FOR
FOREIGN AFFAIRS AND
SECURITY POLICY

Brussels, 7.11.2012  
JOIN(2012) 30 final 

2012/0313 (NLE) 

Joint Proposal for a 

COUNCIL REGULATION 

amending Regulation (EU) No 267/2012 concerning restrictive measures against Iran 

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EXPLANATORY MEMORANDUM 

(1) 

(2) 

(3) 

(4) 

On  23  March  2012,  the  Council  adopted  Regulation  (EU)  No  267/2012  which 
repealed and replaced Regulation (EU) No 961/2010. 

Council  Decision  2012/635/CFSP  of  15  October  2012  provides  for  additional 
measures against Iran, inter alia, the inclusion of additional persons and entities in the 
list  of  persons  and  entities  subject  to  restrictive  measures  as  set  out  in  Annex  IX  of 
Regulation  (EU)  No  961/2010.  This  Decision  also  provides  for  an  exemption  under 
the restrictive measures in order to protect the energy security of the Union.  

An  amendment  to  Regulation  (EU)  No  267/2012  is  necessary  to  give  effect  to  this 
exemption.  

The  High  Representative  for  Foreign  Affairs  and  Security  Policy  and  the  European 
Commission propose to amend accordingly. 

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2012/0313 (NLE) 

Joint Proposal for a 

COUNCIL REGULATION 

amending Regulation (EU) No 267/2012 concerning restrictive measures against Iran 

THE COUNCIL OF THE EUROPEAN UNION, 

Having  regard  to  the  Treaty  on  the  Functioning  of  the  European  Union,  and  in  particular 
Article 215 thereof,  

Having  regard  to  Council  Decision  2010/413/CFSP  of  26  July  2010  concerning  resrictive 
measures against Iran and repealing Common Position 2007/140/CFSP 1, 

Having  regard  to  the  joint  proposal  from  the  High  Representative  of  the  Union  for  Foreign 
Affairs and Security Policy and the European Commission, 

Whereas: 

(1) 

(2) 

(3) 

Council Regulation (EU) No 267/20122 of 23 March 2012 gives effect to the measures 
provided for in Decision 2010/413/CFSP concerning restrictive measures against Iran. 
That  Regulation  provides  for,  inter  alia,  the  freezing  of  all  funds  and  economic 
resources belonging to, owned, held or controlled by the persons, entities and bodies 
listed in Annexes VIII and IX to the Regulation. 

Council  Decision  2012/635/CFSP  of  15  October  2012  provides  for  an  exemption 
under the restrictive measures in order to protect the energy security of the Union. 

This measure falls within the scope of the Treaty on the Functioning of the European 
Union and regulatory action at the level of the Union is therefore necessary in order to 
implement it, in particular with a view to ensuring its uniform application by economic 
operators in all Member States. 

(4) 

Regulation (EU) No 267/2012 should therefore be amended accordingly, 

HAS ADOPTED THIS REGULATION: 

Regulation (EU) No 267/2012 is amended as follows: 

Article 1 

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2 

OJ L 195, 27.7.2010. p. 39. 
OJ L 88, 24.3.2012, p. 1. 

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(1) 

In Article 23, paragraph 4 is replaced by the following: 

"4. Without prejudice to the derogations provided for in Articles 24, 25, 26, 27, 28, 28a or 29, 
it  shall  be  prohibited  to  supply  specialised  financial  messaging  services,  which  are  used  to 
exchange  financial  data  to  the  natural  or  legal  persons,  entities  or  bodies  listed  in  Annexes 
VIII and IX." 

(2) 

The following Article 28a is added: 

"Article 28a 

The prohibitions in Article 23 paragraphs 2 and 3 shall not apply:  

(a)  to  acts  and  transactions  carried  out  with  regards  to  entities  listed  in  Annex  II 
which  hold  rights  derived  from  an  original  award  before  27  October  2010,  by  a 
sovereign Government other than Iran, of a production sharing agreement, insofar as 
such acts and transactions relate to those entities' participation in that agreement; 

(b)  to  acts  and  transactions  carried  out  with  regard  to  entities  listed  in  Annex  II 
insofar  as  necessary  for  the  execution,  until  31  December  2014,  of  the  obligations 
arising  from  contracts  referred  to  in  Article  12(b)  provided  that  those  acts  and 
transactions  have  been  authorised  in  advance,  on  a  case  by  case  basis,  by  the 
competent  authority  concerned  and  the  competent  authority  has  informed  the  other 
competent authority and the Commission of its intention to grant an authorisation." 

This  Regulation  shall  enter  into  force  on  the  day  following  that  of  its  publication  in  the 
Official Journal of the European Union. 

Article 2 

This Regulation shall be binding in its entirety and directly applicable in all Member States. 

Done at Brussels,  

For the Council 
The President 

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