Canada resurrects sanctions against Iranian entities

Canada reimposed sanctions against 11 Iranian entities on Tuesday because the regime did not live up to commitments regarding its nuclear program.

“Canada’s position is unequivocal: Iran must never be allowed to obtain a nuclear weapon,” Foreign Affairs Minister Anita Anand said in a statement. “We will continue to work with our G7 partners and the broader international community toward a comprehensive, verifiable and durable agreement that addresses Iran’s nuclear program and strengthens regional and international security.”

The sanctions were first imposed in 2010, then removed in 2016 after officials were satisfied Iran demonstrated its nuclear program was not in pursuit of developing a nuclear weapon.

But the picture changed in June 2025, when the International Atomic Energy Agency (IAEA) reported that Iran was not complying with its promise.

The US and Israel attack in February led Iran to end its “safeguard obligations” with the IAEA, leading to the eventual reimposition of the sanctions.

In June, the G7 “reaffirmed Iran must not develop or acquire a nuclear weapon,” according to the statement.

The sanctions “further restricts Iran’s access to sensitive technologies and sources of funding under the Special Economic Measures (Iran) Regulations.”

“The regulations prohibit persons in Canada and Canadians abroad from conducting specified financial or property transactions with listed individuals and entities,” it said.

The entities sanctioned include Nuclear Fuel Production and Procurement Company; Nuclear Reactors Fuel Company; National Iranian Oil Company; Bank Mellat; Bank of Industry and Mine; Export Development Bank of Iran; Iran Insurance Company; Bank Mellli Iran; National Iranian Tanker Company; Naftiran Intertrade Company; and Kala Naft.