Reserve Bank of Australia Issues Sanctions against Iran under Banking (Foreign Exchange) Regulations 1959

October 15, 2008

The Reserve Bank of Australia has been directed by the Australian Government to take steps under the Banking (Foreign Exchange) Regulations 1959 to implement financial sanctions against several Iranian entities and persons who contribute to Iran's proliferation activities but are not already listed by the United Nations Security Council. Details of these entities and persons are contained in the Annex.

Any transactions involving the transfer of funds or payments to, by the order of, or on behalf of any person listed in the Annex are prohibited without prior approval from the Reserve Bank.