Regulation 31Z Financial services and funds relating to natural gasF1

(1)

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 import of natural gas which—

(i)

originates in Iran, or

(ii)

is consigned from Iran;

(b)

the direct or indirect acquisition of natural gas which—

(i)

originates in Iran, or

(ii)

is located in Iran;

(c)

the direct or indirect supply of natural gas from a place in Iran to a third country.

(2)

Paragraph (1) is subject to Part 6 (Exceptions and licences).

(3)

A person who contravenes the prohibition in paragraph (1) commits an offence, but it is a defence for a person charged with that offence (“P”) to show that P 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 in that paragraph.

Annotations

Textual amendments

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