Approach of International Smart /Target Sanctions Against the Banking Industry, Investment and Capital Markets of Islamic Republic of Iran

Abstract This Paper entitled "Approach of International Smart /Target Sanctions against the banking industry, investment and capital markets of Islamic Republic of Iran "Following Security Council Resolutions and European Union Council restrictions measures between January 2006 and October 2014. The objectives of this research are, (a) to explain and identify the smart restrictions and constraints caused on monetary and financial institution activities in the country and (b) detail the legal restrictions and obstacles by first-hand examining of UNSC resolutions and EUC decisions and (c) suggest establishing a National Technical and Legal Committee to work against sanctions. Actually, implementing smart / target international sanctions against Iran started after IAEA referred Iranian nuclear program to the Security Council (UNSC); Subsequently, European Union Council (EUC) corroborated and sanctions targeted banking industry, investment and brokering sectors. Implementing target sanctions which started in 2006 and expanded extensively until 23 January, 2012 were related to Nuclear Programs and aimed to reduce economic capability (capacity) of Iran. Implemented sanctions and target financial sanctions have caused the most restrictions on financing programs through limitations imposed on key monetary and financial sectors and the Central Bank which in turn, led to much hardship on general banking industry, investment and capital markets. This hardrdship has been primarily caused because of extent, scope and duration of limitations on loans and services from banking and financial institutions, vis-à-vis sanctioning SWIFT, sanctioning Central Bank and other Iranian banks with outside sources and resources. However, establishing a National Technical and Legal Committee to work against sanctions can facilitate removing of troubling sanction elements.

International Target / Smart Sanctions, UN Security Council, European Union , International Atomic Energy Agency ,SWIFT, Investing, Iran's Banking Industry, Capital Markets