Guidance

Financial sanctions, Iran (nuclear proliferation)

This page contains the list of asset freeze targets, listed because of proliferation-related activity in Iran. It also contains information on regulations.

Documents

Details

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:

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.

Published 10 June 2013
Last updated 7 June 2018 + show all updates
  1. Updated with latest HM Treasury notice 07/06/2018, Iran (Nuclear Proliferation) (Reg 2018/827)
  2. Updated to provide more clarity.
  3. Updated link to Council Regulation as part of routine site maintenance
  4. Updated text on the page to improve clarity
  5. Updated with latest HM Treasury notice, 27/06/2017, Iran (Nuclear Proliferation) (Reg 2017/1124)
  6. Updated with: HM Treasury notice, 18/01/2017, Iran (Nuclear Proliferation) (Reg 2017/77)
  7. Updated with: HM Treasury notice, 24/10/2016, Iran (Nuclear Proliferation) (Judgements of the General Court)
  8. Page information presentation updated (how we link to EU regulations) - no new notice
  9. New notice 03/08/2016 Iran (Judgement of the General Court)
  10. New notice - Iran (Nuclear Proliferation) (Judgements of the General Court)
  11. New notice Iran Regulation 2016/74 added
  12. Web page text updated to reflect the latest notice.
  13. Updated due to new notice: Iran (Nuclear Proliferation): economic and financial sanctions relief under the JCPoA
  14. Updated web text to reflect Adoption Day (18 October) under the Joint Comprehensive Plan of Action and the publication of amended EU regulations
  15. New notice 2015/1327 and 2015/1328 added
  16. Notice 29/07/15 Iran (Judgment of the General Court of 22 June 2015)
  17. Updated with latest information on sanctions relief
  18. New Notice_2015_1001
  19. new notice
  20. Updated due to new notice, Iran (Nuclear Proliferation) (Reg 2015/230)
  21. New notice Iran (Nuclear Proliferation) (Reg 1202/2014) added and consolidated list.
  22. added notice and updated list
  23. added section: 21 July 2014 – limited sanctions relief remains in place until 24 November 2014
  24. added notice (Nuclear Proliferation) (Reg 397/2014)
  25. added Notice 27/02/14 Iran (Judgment of the General Court of 12 December 2013 )
  26. Link to Council Regulation 42/2014 added
  27. added notice 22/01/14 Iran (Judgment of the General Court of 12 November 2013 ); updated consolidated list
  28. added notice Iran (Reg 42/2014)
  29. added notice Iran (Reg 1361/2013)
  30. added 27/11/13 Iran (Reg 1203/2013)
  31. added Iran (Reg 1154/2013)
  32. added Treasury Notice, 29/07/13 Iran (Judgment of the General Court of 16 May 2012 – Transfo v Council)
  33. Removed: 21.11.2012 Financial Restrictions (Iran) Order 2012
  34. First published.