The History of Embargo Against Iran: from the U.S. to the EU
Translator
Najla Nur Fauziyah
Editor
Laila Afifa
Jumat, 19 April 2024 09:40 WIB
TEMPO.CO, Jakarta - Several European Union member states have asked that sanctions on Iran be expanded in response to Tehran's attack on Israel and the bloc's diplomatic service will start working on the proposal, EU foreign policy chief Josep Borrell said on Tuesday.
Citing reuters.com, European Union High Representative for Foreign Affairs and Security Policy Josep Borrell said the proposal would expand a sanctions regime that seeks to curb the supply of Iranian drones to Russia to include the provision of missiles and cover deliveries to Iranian proxies in the Middle East.
Throughout history, Iran has been the target of various international sanctions or embargoes from several countries, especially the United States, and international organizations. The following are several sanctions that Iran has received over the years:
1. United States sanctions against Iran
Citing cnn.com, the history of US sanctions against Iran dates as far back as 1979, when hostages were held at the US Embassy in Tehran. According to the US Treasury Department, the U.S. government froze Iranian government assets in the US and US banks overseas, totaling $12 billion, as a result of the hostage situation.
The freeze was eventually expanded to a full trade embargo until an accord was signed with Iran in 1981. However, Iran insisted on receiving payments in gold rather than US dollars so the U.S. government transferred 50 tons of gold to Iran while taking over ownership of Iranian gold in the equivalent amount that had been frozen at the New York Federal Reserve Bank.
Iran finally released 52 hostages captured at the US Embassy in Tehran on November 20, 1981. The assets were then unblocked and the embargo was lifted.
The US imposed a new embargo on Iran in 1987 over “Iran's support for international terrorism”, and in 1995 over US involvement in petroleum development in Iran.
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2. United Nations (UN) embargo
According to archive.globalpolicy.org, the Security Council adopted a resolution in June 2006, supporting the P5 (United States, Russia, China, France, and the United Kingdom) and Germany's offer of diplomatic and economic incentives. The resolution also demanded Iran to halt all uranium enrichment programs by August 31.
In December 2006, Tehran failed to comply with the resolution. The Security Council then imposed sanctions on Iran’s trade in sensitive nuclear materials and technology. The International Atomic Energy Agency (IAEA) offered Tehran a 60-day grace period to halt its uranium enrichment in exchange for suspension of UN sanctions.
Iran did not take up the offer, resulting in the Security Council adopting Resolution 1747, intensifying the previous sanctions and adding more sanctions against Iranian financial institutions.
3. Embargo by the European Union (EU) and the United Kingdom
Quoting the Journal of Humanities and Social Sciences Communications, the EU sanctions against Iran follow a different pattern to the US. Initially, the three dominant European Union countries, namely France, Germany, and Britain, began negotiations with Iran over international concerns regarding its nuclear program. EU sanctions primarily focused on “enforcing targeted sanctions imposed by the United Nations from 2006”.
The sanctions imposed by the European Union on Iran include banning imports of Iranian crude oil and petroleum products, freezing Iranian central bank assets in the EU, blocking trade in gold, diamonds, and precious metals with Iran, and blocking exports of petrochemical equipment and technology.
However, there was an apparent lack of consensus within the EU over the sanction against Iran. Countries such as the UK, France, and Germany had different approaches to sanctions enforcement. The negotiation process with Iran was finally achieved in 2015 after the European External Action Service (EEAS) was established and the Lisbon Treaty was adopted.
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