Regulation 27M Financial services and funds relating to energy-related goods and energy-related technologyF1

(1)

A person must not directly or indirectly provide, to a person connected with Iran, financial services in pursuance of or in connection with an arrangement whose object or effect is—

(a)

the export of energy-related goods,

(b)

the direct or indirect supply or delivery of energy-related goods,

(c)

directly or indirectly making energy-related goods or energy-related technology available to a person,

(d)

the transfer of energy-related technology, or

(e)

the direct or indirect provision of technical assistance relating to energy-related goods or energy-related technology.

(2)

A person must not directly or indirectly make funds available to a person connected with Iran in pursuance of or in connection with an arrangement mentioned in paragraph (1).

(3)

A person must not directly or indirectly provide financial services or funds in pursuance of or in connection with an arrangement whose object or effect is—

(a)

the export of energy-related goods to, or for use in, Iran,

(b)

the direct or indirect supply or delivery of energy-related goods to a place in Iran,

(c)

directly or indirectly making energy-related goods or energy-related technology available—

(i)

to a person connected with Iran, or

(ii)

for use in Iran,

(d)

the transfer of energy-related technology—

(i)

to a person connected with Iran, or

(ii)

to a place in Iran, or

(e)

the direct or indirect provision of technical assistance relating to energy-related goods or energy-related technology—

(i)

to a person connected with Iran, or

(ii)

for use in Iran.

(4)

Paragraphs (1) to (3) are subject to Part 6 (Exceptions and licences).

(5)

A person who contravenes a prohibition in any of paragraphs (1) to (3) commits an offence, but—

(a)

it is a defence for a person charged with an offence of contravening a prohibition in paragraph (1) or (2) (“P”) to show that P did not know and had no reasonable cause to suspect that the person was connected with Iran;

(b)

it is a defence for a person charged with an offence of contravening a prohibition in paragraph (3) (“Q”) to show that Q did not know and had no reasonable cause to suspect that the financial services or funds (as the case may be) were provided in pursuance of or in connection with an arrangement mentioned that paragraph.

Annotations

Textual amendments

F1: Pt. 5 Chs. 1A-1C inserted (29.9.2026) by The Iran (Sanctions) (Amendment) Regulations 2026 (S.I. 2026/983), regs. 1(2), 7(e)