The Council of the European Union has recently published two Regulations which further extend its Iran sanctions regime.

Council Regulation (EU) No. 1263/2012

This Regulation implements the measures which were published in Council Decision 2012/635/CFSP, and which were the focus of a Reed Smith Client Alert dated 22 October 2012. With the publication of the Regulation, those measures are implemented and brought into force as against EU persons, companies and other entities. The Regulation also adds further detail to those measures.

A client alert will be published shortly, commenting in detail on this Regulation.

Council Implementing Regulation (EU) No. 1264/2012

This Regulation adds further individuals and entities to the asset freeze lists found in the Annexes to Regulation 267/2012. An up to date list of all parties subject to the asset freeze can be found on the HM Treasury website.