The Treasury advises that amendments to the United Kingdom’s sanctions regime against Iran will take effect on 29 September 2026. These measures will apply in the Isle of Man from the same date.
These changes are being introduced through the Iran (Sanctions) (Amendment) Regulations 2026, which amend the Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019 (‘2019 Regulations’) and the Iran (Sanctions) Regulations 2023 (‘2023 Regulations’).
The Iran (Sanctions) (Amendment) Regulations 2026 (‘UK Regulations’)
UK sanctions provisions have effect in the Isle of Man by the Sanctions (Implementation of UK Sanctions) Regulations 2019, which are made under the Sanctions Act 2024.
The measures reinforce the UK’s commitment to applying sustained economic pressure on Iran both domestically and internationally, while closing gaps in existing sanctions regimes.
The changes to the 2019 Regulations include:
- New prohibitions on
- Granting loans or credit, acquiring or extending participations or ownership interests, or establishing joint ventures with persons connected with Iran operating in sensitive sectors such as strategic goods and technology, oil and gas, petrochemicals, and uranium mining, enrichment or reprocessing
- Banking relationships with Iranian credit or financial institutions
- Providing insurance and reinsurance linked to Iran
- The sale or purchase of Iranian bonds or bonds guaranteed by the Government of Iran, to the Government of Iran, any public authority of Iran or Iranian financial institutions, or persons acting on their behalf, including related brokering, advertising or other services. Additional restrictions relating to trade in gold, precious metals and diamonds
- Expanding trade sanctions restrictions to cover a range of goods, technologies and software, including items linked to the energy sector, oil and petroleum products, petrochemicals, natural gas, and shipping
- Applying new restrictions to Iranian aircraft and specified ships, which extends sanctions into transport and logistics networks
- Updated exceptions and licensing rules with strengthened enforcement provisions, including maritime enforcement
- New schedules setting out restricted goods, technologies and other controlled items
The changes to the 2023 Regulations include:
- Introducing new sanctions on the provision of technical assistance and certain services connected with specified Iranian ships
- Prohibiting the chartering, operation and registration of specified ships linked to Iran
- Strengthening existing shipping sanctions by expanding the framework used to identify and designate vessels subject to restrictions
- Extending sanctions controls relating to services provided to, or procured for, specified ships
- Updating exceptions and licencing provisions to reflect the new maritime sanctions measures
- Strengthening enforcement provisions to support compliance with the expanded sanctions regime
- Revise the list of goods and technologies of strategic concern by adding new controlled items and removing others that are no longer considered necessary to include
Businesses trading internationally should review the amendments carefully to determine whether their activities, goods, technologies or services are affected by the new measures. Exporters should also consider whether any activities now require a licence or are prohibited under the amended sanctions regimes.
Local guidance will be updated prior to the changes coming into effect. Until then, further information is available in the UK Government’s: NTE 2026/18: Iran sanctions amendments effective from 29 September 2026.
Iran nuclear sanctions: statutory guidance – GOV.UK
Iran sanctions: statutory guidance – GOV.UK
Failure to comply with financial and trade sanctions legislation or to attempt to circumvent its provisions is a criminal offence.
If you require any further information or guidance, please contact the Sanctions Team on:
Telephone: +44 1624 648109
Email: sanctions@gov.im
Please note: We are unable to provide legal advice. You may need to seek independent legal advice.
