The Guernsey Financial Services Commission published an Iran sanctions notice highlighting that the UK has laid a statutory instrument to amend the Iran (Sanctions) Regulations 2023 as part of the Joint Comprehensive Plan of Action (JCPOA) snapback process. The amended UK regime is scheduled to come into force on 1 October 2025 and is expected to be followed by a large package of designations. The notice recaps that UN Security Council Resolution 2231, which endorsed the JCPOA, suspended earlier UN sanctions on Iran under UN Security Council Resolutions 1737, 1747, 1803 and 1929, including 121 designations, an arms embargo, and financial and trade restrictions, with snapback provisions allowing re-imposition in the event of significant non-performance by Iran of JCPOA commitments. It also notes that the UK regulations are given effect in the Bailiwick of Guernsey via the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 made under the Sanctions (Bailiwick of Guernsey) Law, 2018, and directs readers to Office of Financial Sanctions Implementation guidance and States of Guernsey information on asset freezes and licensing. The statutory instrument takes effect on 1 October 2025, after which the UK has indicated it will publish a large package of designations.

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