The European Union on Monday finalized the approval of sanctions against the Iranian regime that go beyond those passed by the United Nations Security Council in June.
The regulations, ratified by the EU’s 27 foreign ministers on Monday and published in its official journal, came into force on Tuesday.
The most important aspect of the sanctions concerns the Iranian regime’s oil and gas industry. European companies are banned from selling technology to the Iranian regime for use in its energy industry.
The regulations also ban the operation of the clerical regime’s banks in the 27 member states of the EU, prohibiting transfer of funds over 40,000 euros unless there is special authorization.
The sanctions also prohibit the Iranian regime’s cargo flights from entering EU air space.
Shipments received from the Iranian regime will undergo stricter controls and inspections at the EU’s ports and the regime’s shipping line will be prevented from entering EU waters.
Assets belonging to the regime’s Islamic Revolutionary Guard Corps (IRGC) will be frozen in the EU and there will be tighter restrictions for the entry of 40 of the regime’s senior officials into EU territory.