Search for ships currently entered in the London P&I Club by their name or I M O number Search Search for correspondents in our global network by country/area or port/city Search Update on the anticipated EU prohibitions and exemptions regarding the transportation of Iranian crude oil, petroleum products and petrochemical products 9 February 2012 The latest round of EU proposed measures against Iran were published in Council Decision 2012/35 on 23 rd January 2012. Whilst the EU Decision has immediate effect on EU Member States, they are not to be binding on individuals and corporations until the EU Regulation has been issued which implements the proposed measures.   The date and content of the implementing EU Regulation is still not known but Members who continue to trade with Iran should take into account that the Regulation may closely follow the proposed measures and could come into effect within the next weeks.     The proposed measures include a prohibition on “import, purchase or transport of Iranian crude oil, petroleum products and petrochemical products”.  The proposed measures also include the insurance of such transport and are therefore also to affect Members who are not EU subjects (since the Association would in any event be subject to the prohibitions in the Regulation). The proposed measures contain exemptions for contracts concluded before 23 rd January 2012 and for contracts which are ancillary to such contracts. The performance of these exempted contracts would still be allowed under the proposed measures until 1 st July 2012 (for crude and petroleum products) and until 1 st May 2012 (for petrochemical products).   The EU authorities have clarified to the International Group that contracts for the transportation of the proposed prohibited products are “ancillary” if they are necessary for the execution of obligations under trade contracts which were concluded prior to 23 rd January 2012. Accordingly, based on the