Ukraine is preparing economical sanctions against Iran

At a meeting on Tuesday, April 25, the Cabinet of Ministers of Ukraine decided to submit economic sanctions against Iran to the National Security and Defense Council. It was a proposal to impose sectoral sanctions on the Islamic Republic of Iran. 

This was announced by First Vice Prime Minister and Minister of Economy Yulia Svyrydenko.

“We are launching sectoral sanctions against Iran. Unfortunately, the previous restrictions imposed by Ukraine and our partners on individuals and companies directly involved in the supply of weapons to Russia were not perceived as a serious warning. Well, we will strengthen our arguments. We will also work to ensure that as many countries as possible join such tough decisions,” the head of the Ministry of Economy said.

According to the government’s proposals, the sanctions will be imposed for 50 years and include

prevention of the withdrawal of capital by residents of the Islamic Republic of Iran from Ukraine;

prohibition of transfer of technologies and intellectual property rights to Iranian residents

prohibition of investments in Iran and to/for the benefit of Iranian residents;

suspension of servicing of electronic payment instruments (including transfers, payments and cash withdrawals) issued by Iranian residents;

prohibition of registration by the National Bank of Ukraine of an international payment system, a participant of an international payment system, operated by Iranian residents;

restriction of trade transactions in goods, international transfers of which are subject to the Law “On State Control over International Transfers of Military and Dual-Use Goods” with Iranian residents (complete ban), restriction of trade transactions in services related to the supply, sale, transfer, production or use of such goods, complete cessation of transit of resources, flights and transportation by Iranian residents through the territory of Ukraine related to the above transactions.

These sanctions will come into force after the relevant decision is made by the National Security and Defense Council, enacted by the President of Ukraine and approved by a resolution of the Verkhovna Rada of Ukraine.

Ukraine Front Lines