Listing of the Europäisch-Iranische Handelsbank (EIH)
On 24 May the Official Journal of the European Union published a
Regulation (503/2011) on the Implementation of the Iran Embargo
Regulation (961/2010) dated 25 October 2010.
According hereto, Annex VIII of the Iran Embargo Regulation is
extended by further persons, organisations and institutions.
Particular emphasis must be given in this connection to the
inclusion of the Europäisch-Iranische Handelsbank (EIH),
Over the past few months the EIH has played a central role in
the financial processing of legally permissible transactions with
Iranian business partners. Through the inclusion of the EIH in
Annex VIII, it now falls within the scope of application of Article
16 para. 2 of the Iran Embargo Regulation. Accordingly, all money
and economic resources of the EIH are being frozen. The EIH is
likewise prohibited from making economic resources available.
The corresponding excerpt from the Official Journal can be
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