Council Decision (CFSP) 2016/37 on the lifting of certain economic sanctions against Iran
16 Jan 2016
Further to the United Nations Security Council Resolution 2231 (2015) and EU Council Decision (CFSP) 2015/1863 amending EU Council Decision 2010/413 concerning restrictive measures against Iran, the Council of the European Union has decided, as of 16 January 2016, to terminate the implementation of the EU nuclear-related economic and financial sanctions against Iran. In particular, in the oil and gas sectors, EU companies will be able to create joint ventures with Iranian enterprises, as well as acquire and extend their participation in Iranian enterprises engaged in oil and gas refining, exploration and production. Iranian banks will be allowed to open branches, take interest and establish joint ventures in EU Member States, while financial institutions within the territories of Member States will be allowed to open representative offices, subsidiaries and banking accounts in Iran.
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Type:
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Entry and establishment (Ownership and control, Approval and admission)
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Industry:
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Primary (Mining and quarrying)
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Manufacturing (Manufacture of coke and refined petroleum products)
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Services (Financial and insurance activities)
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Sources:
