EMEA News
EU Rules Allow Use of Iranian Bunkers
New European Union (EU) amendments on sanctions against Iran explain that the ban on Iranian-origin petroleum products does not apply to bunkers purchased and supplied outside the country, according to the international law firm Clyde & Co.
The firm notes that a rule against the transport, or insurance of the transport, of petroleum products from Iran, introduced in March 2012, could have been interpreted to prohibit use of any Iranian-origin bunkers, which worried shippers because of the likelihood that bunkers stemmed in Singapore or Fujairah might contain fuel oil from Iran.
Subsequent guidance from the UK's Treasury clarified that such a blanket prohibition was probably not intended, but the new amendment, Council Regulation (EU) No 1263/2012, clarifies the matter with binding language.
The new rules also allow exceptions for the purchase of bunkers in Iran if a vessel has been forced into port by unavoidable conditions.
The new rules, which came into force on December 23, also include a prohibition on the sale of "key naval equipment or technology" for use in Iran or by Iranian organisations, a rule against providing tankers to Iranians or for the transport of Iranian oil, and new restrictions on ship classification services.
The EU previously tightened its sanctions on Iran in October, but the nation's fuel oil exports have risen since then as crude sales have dropped.
