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Ukraine plans to impose sanctions against Iran for 50 years

Sunday, 28 May 2023, 13:05

President Volodymyr Zelenskyy has submitted a draft resolution to the Verkhovna Rada to impose 50-year-long sanctions against Iran.

Source: draft resolution on approval of the decision of the National Security and Defence Council of Ukraine of 27 May 2023 "On the application of sectoral special economic and other restrictive measures (sanctions) against the Islamic Republic of Iran".

According to the document, sanctions against the Islamic Republic of Iran are applied for a period of 50 years and include a complete ban on trade operations, suspension of transit of resources, flights and transportation in Ukraine and prevention of capital outflow by Iranian residents.

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The Cabinet of Ministers, the Security Service, the Foreign Intelligence Service, the National Bank and other competent state authorities are to implement and monitor the sanctions. 

The document also proposes to prohibit any investment in Iran and the transfer of technology and intellectual property rights by residents of Ukraine.

In addition, it is proposed to suspend electronic means of payment (including transfers, settlements and cash withdrawals) issued by residents of the Islamic Republic of Iran. 

The National Bank is also prohibited from registering an international payment system operated by Iran.

Previously:

At a meeting on Tuesday, 25 April, the Cabinet of Ministers decided to submit proposals for the National Security and Defence Council to impose sectoral sanctions on Iran.

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