Ukrainian cabinet initiates sectoral sanctions against Iran

The Cabinet of Ministers of Ukraine has made the decision to submit a proposal on introducing sectoral sanctions against Iran to the National Security and Defence Council.

The government proposes to introduce sanctions for the duration of 50 years, the press service of the Ministry of Economy of Ukraine reported on April 25.

They entail the following: 

• Prevention of the capital outflow from Ukraine for the residents of the Islamic Republic of Iran; 
• Ban on supplying residents of Iran with technologies, and a ban on the right to own intellectual property rights in Ukraine;
• Ban of investment in Iran and its residents; 
• Ban on processing digital methods of payment (in particular, cash operations – ed.], issued by the residents of Iran;
• The National Bank of Ukraine bans registration of an international payment system or a member of an international payment system, as long as they are operated by residents of the Islamic Republic of Iran, etc.

In addition, Ukraine may impose limitations on trading operations of products, the international supply of which is subjected to the Law of Ukraine "On State Control over International Transfers of Military and Dual-Use Goods" with residents of the Islamic Republic of Iran (a total ban – ed.).

In addition, the sanction proposal aims at limiting trade operations with services related to the supply, sale, transfer, production or use of such goods, a complete cessation of the transit of resources, flights and transportation by residents of Iran through the territory of Ukraine, as long as they are associated with the above-mentioned operations.

"We are giving a start to sectoral sanctions against Iran. The previous restrictions imposed by Ukraine and our partners on persons and companies directly involved in the supply of weapons to Russia, unfortunately, were not considered a serious warning.

Well, we will make ourselves clear. We will also work to ensure that as many countries as possible join such tough regulations. Aggression against Ukraine will not remain unpunished. Thus, assistance to the aggressor will not remain unpunished," said Yulia Svyrydenko, First Deputy Prime Minister and Minister of Economy.