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Government increases sanctions on Iran

Release Date

05 March 2013

Foreign Minister Bob Carr has announced further Australian sanctions on Iran, affecting the financial, trade, energy and transport sectors.
The sanctions include financial and travel restrictions on additional individuals and entities active in the oil, gas and financial sectors or related to Iran’s WMD proliferation activities.
They include new measures prohibiting:
  • Financial transactions between Australian and Iranian banks, including the Central Bank of Iran, unless authorised in advance;
  • Export of additional materials and the provision of services relevant to Iran’s nuclear and ballistic programs, and to industries controlled by the Iranian Revolutionary Guard Corps;
  • Import of natural gas from Iran and the provision of related services, and broadening restrictions on export of key equipment for the Iranian oil, gas and petrochemical industries; and
  • Use of Australian vessels for transport or storage of Iranian petrochemical products; construction of new oil tankers for Iran and supply of key naval equipment and technology for ship building and maintenance; and flagging and classification services for Iranian tankers and cargo vessels.
The additional measures are broadly aligned with those introduced by the European Union and other countries.
“These sanctions further increase pressure on Iran to comply with its nuclear non-proliferation obligations and with UN Security Council resolutions and to engage in serious negotiations on its nuclear program,” the Minister said.
The Government will seek public comment on an exposure draft of proposed amendments to the Autonomous Sanctions Regulations 2011 before the new sanctions are formally implemented.
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