Updated: Updated with 'Latest HM Treasury notice, 20/03/2019, Iran (Nuclear Proliferation) (2014/776/CFSP)'.Sanctions
Iran is currently subject to financial sanctions. UN and EU sanctions under the Iran (Nuclear Proliferation) sanctions regime are implemented in the UK through Council Regulation (EU) No 267/2012.Implementation date
In 2006, the UN imposed asset-freeze restrictions on those involved in Iran’s nuclear proliferation activities or the development of nuclear weapon delivery systems. Between 2007 and 2012, the EU implemented further measures.Context
Asset-freeze restrictions apply to those engaged in activity related to nuclear proliferation and related activity, helping to prevent the activity from taking place.
Some individuals and entities listed under this regime are also listed under the following regimes:Iran (Human Rights) Syria Terrorism and Terrorist Financing
If you aren’t sure where someone may be listed, you can consult OFSI’s consolidated list of asset freeze targets.Legislative developments Joint Comprehensive Plan of Action (JCPoA)
On 16 January 2016 (Implementation Day), Iran completed its nuclear-related commitments under the Joint Comprehensive Plan of Action (JCPoA) and received extensive sanctions relief. An EU Information Note provides full information on the EU sanctions that were lifted.
As part of this sanctions relief, restrictions on financial transfers to and from Iran were lifted. Therefore, you no longer need to obtain prior authorisation for, or notify HM Treasury of, transfers of funds sent to or received from Iran.
However, some individuals and entities remain subject to restrictive measures under Council Regulation (EU) No 267/2012 and it’s your responsibility to ensure you are compliant.
Some persons, entities and bodies subject to counter-proliferation measures use ‘shell’ or ‘front’ companies to disguise the ultimate destination of goods, funds and services. You must ensure that no funds or economic resources are made available, directly or indirectly, to or for the benefit of listed targets.Iran (nuclear proliferation) – Supreme Court judgement in Bank Mellat v. Her Majesty’s Treasury (No. 2)
On 19 June 2013, the Supreme Court found in favour of Bank Mellat on their challenge to the Financial Restrictions (Iran) Order 2009 (SI 2009/2725). The restrictions in this Order ceased to have effect in October 2010.UN Resolutions
On 20 July 2015, the UN Security Council unanimously adopted Resolution 2231 (2015) which terminated previous resolutions on Iranian nuclear proliferation.EU Regulations
You can view Council Regulation (EU) No 267/2012) on restrictive measures against Iran (nuclear proliferation) online.
You can find the most recent amendments to the Regulation by searching on EUR-Lex – an online database that provides free access to EU law, international agreements and other public documents. Just:enter the Regulation number into the search bar open the relevant page click ‘document information’. UK regulations
Read more about the UK’s sanctions policy on Iran.18.01.2016 The Iran (European Union Financial Sanctions) Regulations 2016 (SI 2016 No 36) seen at 20:33, 20 March in Publications on GOV.UK.
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