The EU Council of Ministers Friday approved the implementing legislation for the most recent EU sanctions on Iran in response to the Iranian nuclear program.

The publication of a regulation in Saturday's Official Journal will ensure the full legal effect of the measures adopted on October 15, the Council says in a statement.

Besides, the Council also added entities and a person to the list of those subject to restrictive measures.

The regulation giving effect to the October measures further defines the prohibition regarding participation in transactions with Iranian financial institutions, unless authorised in advance.

It also defines the scope of the several export bans, including on graphite, metals, key naval equipment and technology for ship-building, additional key equipment or technology for the Iranian oil, natural gas and petrochemical sector and software for industrial production.

The act also specifies which natural gas products may no more be imported into the EU and clarifies that swapping Iranian natural gas is also prohibited. In addition, certain dual-use items or technologies relevant to industries controlled by the Islamic Revolutionary Guard Corps or for Iran's nuclear programme are now included in the export prohibition for dual-use items and technologies.

Besides, the regulation offers further clarification regarding the prohibition to supply certain services in respect of Iranian oil tankers and cargo vessels as well as regarding the ban on supplying vessels designed for the transport or storage of oil to Iran.

By way of a separate decision, the Council added one person and 18 entities involved in nuclear activities or providing support to the Iranian government to the list of those targeted with an asset freeze and a travel ban. This brings the total of entities subject to sanctions to 490 and the total number of persons to 105.

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