Questions involved The main question in this case is whether providing insurance or reinsurance to the rig whilst it is operating in Iranian waters is prohibited under the EU sanctions. In order to answer this question, it should be clarified whether the provisions of the Regulation in respect of restrictions on providing equipment and technology to key sectors of oil and gas “key industry in Iran” or key equipment and technology to any Iranian person, entity or body or “naval for use in Iran” apply to this case. Key equipment and technology to key sectors of the oil and gas industry in Iran As mentioned the sale, supply, or transfer of key equipment and technology for oil and gas industry in Iran is prohibited. For this purpose, a list of key equipment and technology is provided in the annexes to the Regulation. According to the Annex VI, among all listed items, and production platforms for crude oil and natural gas” are considered to be key “drilling equipments which are prohibited under Article 8. Correspondingly, the supply of the rig for use in Iran would be included in this category of listed prohibited activities, and thus falls within the EU sanctions. In addition, providing assistance”, brokering services, or “technical “financing financial assistance” relating to key equipment and technology to Iranian persons, bodies, entities or for use in Iran is prohibited under the Regulation. For the purpose of the Regulation, assistance” is defined as follows: “technical any technical support related to repairs, development, manufacture, assembly, testing, “… maintenance, or any other technical service, and may take forms such as instruction, advice, training, transmission of working knowledge or skills or consulting services, including verbal forms of assistance…” Therefore, surveying services might be interpreted as being included in assistance”. “technical However, the provision of (re)insurance is not to be construed to fall within the category of assistance”. “technical Contrary to the term assistance”, or financial assistance” is not officially “technical “financing defined in the Regulation. There is some guidance as to what or financial assistance” “financing includes in some sections of the Regulation, where the term is used. However, there is no explicit definition or precise approach to this issue. Some examples in which the Regulation provides guidance to the definition of the term or financial assistance” are as follows: “financing
Questions involved The main question in this case is whether providing insurance or reinsurance to the rig whilst it is operating in Iranian waters is prohibited under the EU sanctions. In order to answer this question, it should be clarified whether the provisions of the Regulation in respect of restrictions on providing “key equipment and technology to key sectors of oil and gas industry in Iran” or “naval key equipment and technology to any Iranian person, entity or body or for use in Iran” apply to this case. Key equipment and technology to key sectors of the oil and gas industry in Iran As mentioned the sale, supply, or transfer of key equipment and technology for oil and gas industry in Iran is prohibited. For this purpose, a list of key equipment and technology is provided in the annexes to the Regulation. According to the Annex VI, among all listed items, “drilling and production platforms for crude oil and natural gas” are considered to be key equipments which are prohibited under Article 8. Correspondingly, the supply of the rig for use in Iran would be included in this category of listed prohibited activities, and thus falls within the EU sanctions. In addition, providing “technical assistance”, brokering services, “financing or financial assistance” relating to key equipment and technology to Iranian persons, bodies, entities or for use in Iran is prohibited under the Regulation. For the purpose of the Regulation, “technical assistance” is defined as follows: “… any technical support related to repairs, development, manufacture, assembly, testing, maintenance, or any other technical service, and may take forms such as instruction, advice, training, transmission of working knowledge or skills or consulting services, including verbal forms of assistance…” Therefore, surveying services might be interpreted as being included in “technical assistance”. However, the provision of (re)insurance is not to be construed to fall within the category of “technical assistance”. Contrary to the term “technical assistance”, “financing or financial assistance” is not officially defined in the Regulation. There is some guidance as to what “financing or financial assistance” includes in some sections of the Regulation, where the term is used. However, there is no explicit definition or precise approach to this issue. Some examples in which the Regulation provides guidance to the definition of the term “financing or financial assistance” are as follows:
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