On 23 December 2012 the restrictive measures against Iran contained in Council Regulation (EU) No 1263/2012 came into force. The measures supplement those already contained in Regulation 267/2012 of 23 March 2012. Whilst extending the restrictive measures in areas already legislated for, such as over the transfer of funds and financial services, it introduces new prohibitions which affect the shipping industry in a number of important ways. In particular, ship builders and repairers, classification societies and surveyors and charterer/ operators will be affected by prohibitions against dealing with Iranian persons.