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Australia Sanctions

Australia has passed legislation to implement the UN Security Council sanctions against Iran and has imposed autonomous sanctions in support of the UN Security Council's efforts since 2008 to demonstrate its concern for Iran's nuclear program.

Existing Sanctions

 

Select Legislative Instrument 2007 No. 12

In February 2007, Australia implemented UN Security Council Resolution 1737 with Select Legislative Instrument 2007 No. 12 (SLI 2007 No. 12) restricting the trade of WMD- and nuclear-related goods and financial transactions and the conduct business with designated entities and individuals in Iran.

Select Legislative Instrument 2008 No. 31

In April 2008, Australia enhanced its implementation of UN Security Council sanctions against Iran replacing SLI 2007 No. 12.
SLI 2008 No. 31 was amended in June 2008.

The legislation was amended in April 2009 to implement further UN Security Council sanctions.

In July 2010, Australia implemented UN Security Council Resolution 1929 by amending SLI 2008 No. 31.

Banking (Foreign Exchange) Regulations 1959

On October 15, 2008, Australia created the Iran Annex as part of its financial sanctions legislation. The annex included 20 individuals and entities that the UN Security Council Annex did not specifically include. These sanctions provide targeted financial and travel restrictions on those involved in nuclear and missile programs or sanctions violations, and they also provide an embargo on various weapons, dual-use items, and nuclear, chemical, and biological agents and equipment.

On July 21, 2010, additional financial and travel restrictions were added to the Iran Annex including Bank Mellat and the Islamic Republic of Iran Shipping Line (IRISL).

On August 25, 2010, Australia issued further autonomous sanctions against Iran, adding eight individuals and 80 entities to the Iran Annex of the financial sanctions legislation.

Australia's Autonomous Sanctions

On August 22, 2012, Australia's Foreign Minister Bob Carr announced new sanctions against Iran targeting its financial sector preventing any commercial relationship between Iranian and Australian banks, amongst other measures.

A complete list of Australia's sanctions against Iran can be accessed here.