UK updates Iran nuclear sanctions guidance on financial, trade curbs

LONDON, September 9, 2026 — The UK has updated its statutory guidance for the Iran nuclear sanctions regime to reflect 2026 amendments, clarifying financial, trade and transport restrictions with implications for screening and transaction controls.

The regime applies to individuals, businesses and organizations operating in the UK, UK-incorporated or constituted organizations acting anywhere in the world, and UK nationals wherever they are. Deliberate participation in activity known to circumvent or facilitate a breach is prohibited.

Among the financial provisions tied to Sept. 8 are restrictions on investments involving Iran-connected parties in dual-use manufacturing, oil and gas, fuel refining, petrochemicals and uranium-related activity. UK financial institutions face limits on opening accounts, forming correspondent relationships or creating joint ventures with Iran-connected institutions.

New business authorizations for certain Iranian institutional branches, subsidiaries or representative offices in the UK are prohibited if they were not already authorized before that date.

The guidance also describes a prohibition on insurance or reinsurance for persons connected with Iran, subject to exceptions that include qualifying pre-Sept. 8 agreements, compulsory or third-party insurance for an Iranian person in the UK, and coverage for Iranian diplomatic or consular posts. Restrictions also apply to sales, purchases, brokering and other services involving Iranian bonds or bonds guaranteed by the Iranian government and issued after Sept. 8.

Trade controls span military, missile and nuclear-related items, graphite and metals, sectoral software, energy-related goods, precious metals, oil, petrochemicals and natural gas. Related technical assistance, financial services and brokering may also be prohibited. Transport measures restrict certain Iranian cargo aircraft and specified ships, including port entry, chartering and operation.

For screening purposes, designated persons and specified ships are identified on the UK Sanctions List. Asset-freeze rules also reach entities owned or controlled by a designated person. Exceptions and licensing routes are administered by OFSI, trade-sanctions teams, the Department for Transport and the Insolvency Service, depending on the restriction.