Canada has reimposed sanctions on 11 Iranian entities, including the National Iranian Oil Company, the National Iranian Tanker Company and several major financial institutions, citing their alleged involvement in Iran’s nuclear activities, ballistic missile program and related financing networks. Foreign Affairs Minister Anita Anand announced the measures on November 10 during the G7 foreign ministers’ meeting in Paris, saying Ottawa intends to restrict Tehran’s access to funding and sensitive technologies. The targeted organizations include Bank Mellat, Bank Melli Iran, the Bank of Industry and Mine, the Export Development Bank of Iran, and Iran Insurance Company, along with three other energy and nuclear-related entities. “Canada’s position is unequivocal: Iran must never be allowed to obtain a nuclear weapon,” Anand declared. All 11 entities had previously been removed from Canada’s sanctions list in 2016 after Iran took steps under the 2015 Joint Comprehensive Plan of Action, commonly known as the nuclear deal. Canada says renewed concerns over Iran’s nuclear activities and its repeated failure to cooperate with the International Atomic Energy Agency prompted the decision to restore the restrictions.

Under the reimposed measures, people and organizations in Canada, as well as Canadians abroad, are prohibited from carrying out specified financial and property transactions involving the listed entities. Ottawa says the restrictions are designed to disrupt financial networks that could support Iran’s nuclear and missile programs while limiting access to sensitive technologies and sources of funding. The 11 organizations span several strategic sectors, including oil production, shipping, nuclear fuel procurement, banking and insurance, extending the measures beyond individual officials or government figures. With the latest announcement, Canada says it has imposed 25 rounds of sanctions involving 237 Iranian individuals and 276 entities. The move also reinforces coordination with G7 partners, who have called on Tehran to meet its international obligations and resume full cooperation with nuclear inspectors. While Canada maintains that the measures are intended to prevent nuclear proliferation and strengthen international security, Iran has consistently maintained that its nuclear program is peaceful.