Iran is currently subject to financial sanctions. This document contains the current list of designated persons relating to proliferation sensitive nuclear activities.
In 2006, the UN Security Council imposed, amongst other matters, asset freeze restrictions on persons determined by the UN as engaging in, directly associating with, or providing support for, Iran’s proliferation-sensitive nuclear activities or the development of nuclear weapon delivery systems.
Between 2007 and 2012, the European Commission implemented further measures. Following decades of negotiation, the Joint Comprehensive Plan of Action (JCPoA) was implemented on 16 January 2016, significantly reducing the scope of financial sanctions against Iran.
Full information on the EU sanctions lifted under the JCPoA is provided in an EU Information Note. It should be noted that a number of individuals and entities remain subject to the restrictive measures contained within Council regulation 267/2012, and a number of Iranian entities also remain listed under the Syria regime and for human rights and terrorism concerns.
Read more about the UK’s sanctions policy in relation to Iran.
Iran (nuclear proliferation) – Supreme Court judgement in Bank Mellat v. Her Majesty’s Treasury (No. 2)
Judgement was handed down on 19 June 2013 in relation to Bank Mellat’s challenge to the Financial Restrictions (Iran) Order 2009 (SI 2009/2725). The Supreme Court found in favour of Bank Mellat. The Financial Restrictions (Iran) Order 2009 ceased to have effect in October 2010.
Current EU regulations
26.06.2015 Council Regulation (EU) No 2015/1001, Amending Regulation 267/2012
14.02.2015 Council Regulation (EU) No 2015/230 Relisting one individual and one entity.
20.01.2014 Council Regulation 42/2014 This Regulation implements the Joint Plan of Action, including the raising of the thresholds for notifications and prior authorisations.
22.12.2012 Council Regulation 1263 New EU Prohibition on transfers of funds between EU credit and financial institutions and Iranian banks, and asset freezing measures regarding the Central Bank of Iran.
16.11.2012 Council Regulation 1067/2012 Regulation 1067/2012 inserts a new Article into Regulation 267/2012 concerning an exemption to the prohibitions applying to acts and transactions carried out with regard to entities listed in Annex IX of that Regulation.
03.08.2012 Council Regulation 708/2012 Amends the reference to IRISL in Article 23.2(e) of Regulation (EU) 267/2012.
26.03.2012 Council Regulation (EU) No 267/2012 Revokes and replaces Council Regulation (EU) No 961/2010, and provides for additional measures.
Current UK regulations
Licences authorise certain activities or types of transaction that would otherwise be prohibited by asset freezing legislation. Download a licence application.