NTE 2024/24: trade sanctions against Iran, introduced in September 2024

17 September 2024

New trade sanctions on Iran entered into force on 13 September 2024.

The legislation for the new measures is The Iran (Sanctions) (Amendment) Regulations 2024. This amends The Iran (Sanctions) Regulations 2023 (the ‘regulations’) originally introduced in 2023.

New measures

These sanctions target goods and technology of strategic concern to the UK. These items are listed in Schedule 4 of the regulations. The export, supply and delivery, and making available to, or for use in, Iran, of these items is prohibited. The provision of technical assistance, brokering services, financial services or funds relating to these items is also prohibited.

These measures will disrupt Iran’s production and supply of unmanned aerial vehicles and missiles, and further increase the pressure on Iran’s defence industry. The measures broadly align with similar steps taken by the UK’s international partners.

Exceptions and licences

There are some exceptions to the prohibitions, which are set out in detail in the regulations. Licences may be granted in very limited circumstances, as set out in the statutory guidance.

Further guidance and support

Guidance on the scope of sanctions against Iran, including the circumstances in which licences can be granted, will shortly be updated and can be found on the UK sanctions related to Iran guidance page.

Kindly supplied by GOV.UK

Chamber International is ready to help with any other enquiries about exporting or trading with Iran.

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