Knowledgebase

Sanctioned Countries: Iran

sanctions iran

Overview of Sanctions in Iran

Iran has been sanctioned by various entities over the last several decades.

The United States imposed sanctions on Iran in 1979, following the Iranian revolution, and expanded them in 1995 to prohibit firms from doing business with the Iranian government.

The UN also sanctioned Iran in 2006, when the Iranian government refused to suspend its uranium enrichment program.

The EU placed additional sanctions on Iran in 2007 in response to concerns over Iran’s nuclear program and human rights violations in the country.

These various sanctions targeted various aspects of Iranian commercial and public life, including bans on investments in oil, gas and petrochemicals, exports of refined petroleum products, and business dealings with the Iranian Revolutionary Guard.

This latter category included banking and insurance transactions (including with the Central Bank of Iran), shipping, and digital services. 

Easing of Sanctions on Iran

On April 2nd, 2015, the P5+1 (the five permanent UN Security Council nations plus Germany) reached a provisional agreement with Iran on a framework that would lift the majority of sanctions against in return for various limits on Iran’s nuclear programs that are to last for at least 10 years.

As a result, most sanctions against Iran were lifted in early 2016.

This means that investors and entrepreneurs will now find it much easier to do business in Iran and that Iran can begin to re-engage with the global financial system.

Certain sanctions remain in place, however, so it is still important to conduct proper research and receive appropriate legal advice before considering doing business in Iran or with Iranian entities. 

Following criticisms of a deal being one-sided after sanctions were lifted the USA withdrew from a nuclear agreement with Iran in May 2018.

Later that year in November the USA brought new sanctions into force to pressure Iran to change policy in the Middle East and halt its ballistic missle development.

For the most up-to-date information on Iran sanctions, it is best to visit regulators’ websites. Relevant pages for OFAC, HM Treasury, and EU sanctions are listed below: 

Get Started Now

Our Solutions Can Help You Search, Screen and Monitor Individuals on Global Sanctions Lists, Including OFAC, UN, HMT, EU, and DFAT.

0

Comments

Share your thoughts and start a conversation.

Leave a Reply

Related articles:

sanctions uk
June 21, 2014

Understanding Sanctions In The UK

Understanding Sanctions In The UK Sanctions in the UK fall under the authority of several…
Read More
OFAC Sanctions
June 21, 2014

A Guide To OFAC Sanctions

A Guide To OFAC Sanctions The United States plays an important role in the international fight…
Read More
Waves crashing
June 21, 2014

What Are The Consequences Of Breaking OFAC Sanctions?

What are the consequences of breaking OFAC Sanctions? The Office of Foreign Assets Control (OFAC)…
Read More
Man gripping a fence
June 21, 2014

What Are Sanctions?

What Are Sanctions? Sanctions are an important tool of governance in the global financial industry.…
Read More
Concrete buildings in Aleppo, Syria
August 12, 2014

Sanctioned Countries: Syria

Sanctioned Countries: Syria The Syria sanctions program applied by OFAC, HM Treasury, the EU, the…
Read More
sanctions cuba
August 12, 2014

Sanctioned Countries: Cuba

Sanctioned Countries: Cuba Cuba Sanctions: An Overview On July 8 1963, the US Government, under…
Read More
May 3, 2018

Specially Designated Nationals And Blocked Persons List

What is the Specially Designated Nationals And Blocked Persons List? In order to carry out its…
Read More
Sanctions List
July 11, 2018

What Is A Sanctions List?

What Is A Sanctions List? In order to ensure financial sanctions are observed and enforced,…
Read More
HM Treasury Sanctions List
August 21, 2019

HM Treasury Sanctions List

HM Treasury Sanctions List: What You Need To Know As one of the world’s largest economies…
Read More
DFAT Sanctions List Australia
August 28, 2019

Australia and Sanctions: DFAT Sanctions List

Avoid a AU$450,000 Fine: Understand the Australian Sanctions List The Australian Sanctions List plays a…
Read More
UN Sanctions List United Nations Security Council Consolidated List
August 28, 2019

UN Sanctions List

UN Sanctions List: What You Need To Know The United Nations is an international organization dedicated…
Read More
EPPO
September 2, 2019

EU Sanctions

European Union (EU) Sanctions List Economic sanctions are an essential part of the EU’s Common Foreign…
Read More
Share:

To make sure you get a great experience on our website, we use cookies. To confirm you consent to this, please click below. Read more about our Cookie Policy

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close