Is Iran a sanctioned country UK?

Iran is currently subject to UK financial sanctions.

What countries can Iran trade with?

Iran, Islamic Rep. top 5 Export and Import partners

Market	Trade (US$ Mil)	Partner share(%)
Unspecified	11,839	12.25
China	9,218	9.54
Iraq	8,961	9.27
United Arab Emirates	5,949	6.16

Is there a trade embargo with Iran?

The United States has imposed an arms ban and an almost total economic embargo on Iran, which includes sanctions on companies doing business with Iran, a ban on all Iranian-origin imports, sanctions on Iranian financial institutions, and an almost total ban on selling aircraft or repair parts to Iranian aviation …

Does the UK have any sanctions?

The UK implements a range of UK sanctions regimes through regulations established under the Sanctions and Anti-Money Laundering Act 2018 (the Sanctions Act). The Sanctions Act provides the legal basis for the UK to impose, update and lift sanctions.

Is business in Iran illegal?

The United States has since 1979 applied various economic, trade, scientific and military sanctions against Iran. Currently, US sanctions against Iran include an embargo on dealings with the country by the U.S., and a ban on selling aircraft and repair parts to Iranian aviation companies.

Can I export food to Iran?

Exports of Food to Iran. OFAC has authorized the exportation and re-exportation of agricultural commodities to Iran pursuant to a general license. This authorization is made pursuant to the Trade Sanctions Reform and Export Enhancement Act of 2000 (TSRA pdf).

What should UK businesses look out for when trading with Iran?

UK businesses looking to trade or invest in Iran should be aware of: sanctions that remain in place, trade regulations and export controls, and ensure all trade activity is sanctions compliant political exposure, via connections with current or former government organisations or individuals that remain sanctioned

What are the restrictions on trade with Iran?

It is prohibited to export, sell, supply or transfer goods and technology which might be used for internal repression to Iran, or to other destinations where they are ultimately for use in Iran. You should also be aware there are prohibitions if you are providing related technical assistance, as well as financing and financial assistance.

What is Iran’s trade relationship with the EU?

The EU is Iran’s 2nd biggest trade partner, representing 12.3% of the country’s total trade in goods with the world in 2020. Before the current sanctions regime, the EU used to be the most important partner of Iran. Total trade in goods between the EU and Iran in 2020 amounted to €4.5 billion.

Does the UK have a sanctions regime on Iran?

The UK also implements a sanctions regime on Iran related to nuclear weapons. Find out more about other UK sanctions regimes. For further information on financial sanctions: contact the Office of Financial Sanctions Implementation [email protected] or subscribe to the Office of Financial Sanctions Implementation’s e-alerts