14/10/2025
REMINDER :-
UN Sanctions Snapback on Iran – Reinstatement of Sanctions and Addition of Entities to Sanctions List
Dear Compliance Officer/ Reporting Instituiton,
This notice is issued in reference to the specified paragraph of the policy documents
Paragraph 28 of Anti-Money Laundering, Countering Financing of Terrorism, Countering Proliferation Financing and Targeted Financial Sanctions for Financial Institutions
Paragraph 24 of Anti-Money Laundering, Countering Financing of Terrorism, Countering Proliferation Financing and Targeted Financial Sanctions for DNFBPs and NBFIs
Based on recent developments on Iran by the United Nations Security Council arising from the snapback mechanism whereby previously terminated sanctions on Iran have been reimposed effective from 27 September 2025. Reporting institutions are reminded to comply with the requirement in the above paragraphs and expected to update sanction database based on the reimposition of the sanction on individuals and entities concerning Iran.
Important Reminder:
Any dealings involving frozen funds or properties, or requests for exemptions for basic or extraordinary expenses, whether by the specified entity, related party, or any interested party requires prior written authorisation from MITI.
