The Norwegian government has announced that it has adopted a round of more extensive sanctions against the Iranian regime, the country’s Foreign Ministry said in a statement this week.
Following European Union sanctions over Tehran’s nuclear program last year, Norway proposed stronger sanctions as well. The measures are based on restrictions adopted by the UN Security Council June 2010.
The bolstered set of sanctions will include a stricter ban on trade and prohibition on export of key equipment and tools along with technology and services that are related to the regime’s oil and gas industry. They will also affect financial transactions.
Concurrently, there will be a significantly longer list of individuals, entities and organizations whose assets are frozen.
According to the press statement, Norwegian Foreign Minister Jonas Gahr Store said, “These sanctions directly result from the fact that Iran has so far refused to abide by the recommendations and resolutions of the UN Security Council. It has also failed to cooperate with the IAEA in line with its international obligations.”
On July 27, 2010, Norwegian officials decided to adhere to the more extensive sanctions against the regime. An important goal is to align Norwegian laws with those in the EU so that Norwegian companies are subjected to the same regulations as businesses in the EU.
The European Union implemented the regulations on October 25, 2010. Amendments proposed to the Norwegian government on Friday force more legal provisions into Norway’s legal system to implement more extensive restrictions against the clerical regime.
Failure to abide by the regulations can lead to financial penalties or even jail sentences. The new restrictions will go into effect on January 18, according to Oslo.