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Iran's nuclear program

EU re-imposes sanctions against Iranian bank, 32 shipping companies

The restrictive measures will remain in force for one year

© AP Photo/Ronald Zak

BRUSSELS, April 8. /TASS/. The European Union has re-imposed sanctions on Iran’s third-largest bank and 32 shipping companies, the EU Official Journal said on Wednesday.

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The restrictive measures will remain in force for one year.

In January, an EU court annulled sanctions against Bank Tejarat and 40 shipping companies, finding no evidence of their support for nuclear weapons proliferation.

The move comes just days after Iran and P5+1 group (Russia, US, UK, China, France and Germany) reached a breakthrough agreement in Switzerland’s Lausanne on restricting Tehran’s nuclear program in exchange for gradual lifting of sanctions. The deadline for coordinating the final agreement is June 30.

According to the deal, Iran will not enrich uranium no higher than to 3.67% for the next 15 years. Tehran will also cut its stockpile of low-enriched uranium from around 10 tons to 300 kilograms. Iran agreed not to set up new facilities for uranium enrichment in the next 15 years, and vowed not to reprocess spent nuclear fuel and conduct research in this sphere.

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