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PARIS – Canada is reimposing sanctions on 11 Iranian entities, including National Iranian Oil Company, National Iranian Tanker Company and several banks, Foreign Affairs Minister Anita Anand announced Tuesday as G7 foreign ministers met in Paris.
The measures restore sanctions on organizations Canada delisted in 2016 following Iran’s progress under the 2015 Joint Comprehensive Plan of Action, the nuclear agreement known as the JCPOA. Ottawa said the new action targets entities contributing to proliferation-sensitive nuclear activities and the ballistic missile program, or financing what Canada described as the Iranian regime’s malign activities.
The Global Affairs Canada announcement said the sanctions are being reimposed under the Special Economic Measures (Iran) Regulations. A government backgrounder said the regulations prohibit persons in Canada and Canadians abroad from conducting specified financial or property transactions with listed individuals and entities.
The complete list comprises Nuclear Fuel Production and Procurement Company; Nuclear Reactors Fuel Company; Kala Naft; Naftiran Intertrade Company; National Iranian Oil Company; National Iranian Tanker Company; Bank Mellat; Bank Melli Iran; Bank of Industry and Mine; Export Development Bank of Iran; and Iran Insurance Company.
The scope spans nuclear-fuel companies, oil and shipping businesses, banks and insurance. The announcement concerns specified dealings with listed organizations, rather than a newly announced blanket prohibition on every transaction involving Iran.
Canada said it had eased its autonomous sanctions in February 2016 after the International Atomic Energy Agency reported that Iran had allowed verification activities and taken steps to restrict its nuclear program in line with the JCPOA. The government now says Iran’s failure to cooperate with the IAEA has heightened concern about its nuclear activities.
In its backgrounder, Canada pointed to the IAEA Board of Governors’ June 2025 finding of non-compliance with safeguards obligations and Iran’s subsequent suspension of cooperation with the agency. It also cited the return of UN nuclear-related sanctions in September 2025 and Canada’s implementation of those measures that month. Tuesday’s action is a further step under Canada’s own Special Economic Measures regulations.
“Canada’s position is unequivocal: Iran must never be allowed to obtain a nuclear weapon,” Anand said. She said Canada would continue working with G7 partners and the broader international community toward a verifiable, durable agreement addressing Iran’s nuclear program.
Ottawa said the reimposition aligns with efforts by like-minded partners to disrupt financial networks supporting Iran’s nuclear program and restrict access to sensitive technology and funding. It called on Iran to resume full cooperation with the IAEA and return to negotiations.
JBizNews Desk | Paris
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