1. The following shall be prohibited:
(a)
the granting of any financial loan or credit to any Iranian person, entity or body referred to in paragraph 2;
(b)
the acquisition or extension of a participation in any Iranian person, entity or body referred to in paragraph 2;
(c)
the creation of any joint venture with any Iranian person, entity or body referred to in paragraph 2.
2. The prohibition in paragraph 1 shall apply to any Iranian person, entity or body engaged:
(a)
in the manufacture of goods or technology listed in the Common Military List or in Annex I or II;
(b)
in the exploration or production of crude oil and natural gas, the refining of fuels or the liquefaction of natural gas; or
(c)
in the petrochemical industry.
3. For the purposes of paragraph 2(b) and (c) only, the following definitions shall apply:
(a)
‧exploration of crude oil and natural gas‧ includes the exploration for, prospection of and management of crude oil and natural gas reserves, as well as the provision of geological services in relation to such reserves;
(b)
‧production of crude oil and natural gas‧ includes bulk gas transmission services for the purpose of transit or delivery to directly interconnected grids;
(c)
‧refining‧ means the processing, conditioning or preparation for the ultimately final sale of fuels.
(d)
‧petrochemical industry‧ means production plants for the manufacturing of items in Annex V.
4. It shall be prohibited to establish cooperation with an Iranian person, entity or body engaged in the transmission of natural gas as referred to in paragraph 3(b).
5. For the purposes of paragraph 4, ‧cooperation‧ means:
(a)
the sharing of investment costs in an integrated or managed supply chain for the receipt or delivery of natural gas directly from or to the territory of Iran; and
(b)
direct cooperation for the purpose of investing in liquefied natural gas facilities within the territory of Iran or in liquefied natural gas facilities directly connected thereto.