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New UK Sanctions on Iran - The Financial Restrictions (Iran) Order 2011

22 November 2011

The most recent in a string of sanctions measures focussed on regimes in the Middle East entered into force in the United Kingdom at 3:00 pm on Monday 21 November 2011 in the form of the Financial Restrictions (Iran) Order 2011 (the "Order"). The Order prohibits UK financial and credit institutions from entering into or continuing to participate in any transaction or business relationship with any bank incorporated in Iran, including such banks' branches and subsidiaries (wherever located), and the Central Bank of Iran, unless licensed to do so by HM Treasury.

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