Guidance

Financial sanctions, Iran (nuclear proliferation)

Iran is currently subject to financial sanctions. This document contains the current list of designated persons relating to proliferation sensitive nuclear activities.

Detail

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 persons also remain listed under the Iran (Human Rights), Syria, and Terrorism and Terrorist Financing regimes.

The economic and financial sanctions relief provided under the JCPoA is described in HM Treasury’s Notice.

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

View the Consolidated version of Council Regulation 267/2012 concerning restrictive measures against Iran (nuclear proliferation).

Disclaimer:

While the link above is described as the latest consolidated version of the relevant EU Regulation on the EUR-Lex website, readers are to be aware that amendments to the Regulation are not always immediately included in that consolidated version. Accordingly HM Treasury does not accept any liability for possible omissions of relevant data or mistakes, and for any use made of the consolidated version. The most recent amendments to the implementing Regulation can be found by searching for them individually at http://eur-lex.europa.eu/homepage.html

Current UK regulations

Financial sanctions guidance

Read the Office of Financial Sanctions Implementation’s guide to financial sanctions.

Licence applications

Licences authorise certain activities or types of transaction that would otherwise be prohibited by asset freezing legislation. Download a licence application.