United Nations (Iran – Joint Comprehensive Plan of Action) Regulations 2016
New Zealand's sanctions regulations against Iran(external link) came into force on 19 February 2016. These regulations apply to all persons inside New Zealand and to New Zealand citizens outside New Zealand.
A person breaching the sanctions regulations could be liable for up to 12 months imprisonment or a fine of up to $10,000. A company breaching the sanctions regulations could be liable for a fine of up to $100,000.
Some of the key restrictions in the sanctions regulations are outlined below. The following list is a summary only and is not comprehensive. We recommend that you look at the detailed regulations and obtain independent legal advice when making decisions about dealings with Iran.
Asset Freeze
The regulations prohibit transferring, selling, or otherwise dealing with any property (including land, shares, or money) that is owned or controlled by a person designated by the UN, or their agent (see regulations 29-31). You can access the list of people and entities designated by the UN(external link) on the UNSC website.
Export prohibitions: Nuclear-related material, equipment and technology
The regulations prohibit the export (directly or indirectly) of nuclear-related material, equipment, or technology from New Zealand to Iran. The regulations also prohibit loading or carrying these items on to a New Zealand craft for export to Iran and other dealings in these items that are intended for Iran (see regulations 5-10).
Export prohibitions: Ballistic missile-related technology
The regulations prohibit the export (directly or indirectly) of ballistic missile-related technology from New Zealand to Iran. The regulations also prohibit loading or carrying ballistic missile-related technology on a New Zealand craft for export to Iran, and other dealings in this technology where it is intended for Iran (see regulations 13-19).
Import prohibitions: Ballistic missile-related technology
The regulations prohibit the import (directly or indirectly) of ballistic missile-related technology from New Zealand to Iran unless approved in advance by the Security Council (see regulation 16).
Restricted transactions
The regulations prohibit engaging in certain financial transactions with any person in Iran, Iranian national outside Iran, any Iranian entities or people acting on behalf of Iran or Iranian entities. The prohibited transactions are any kind of financial transaction that relates to uranium mining or to the use of certain nuclear materials or technology (see regulation 12).
Training and assistance: Nuclear-related material, equipment and technology
The regulations prohibit providing any assistance (including technical or financial assistance) or training relating to the supply, sale, transfer, manufacture or use of any nuclear-related material, equipment, or technology to any person in Iran (unless first approved by the Security Council) (see regulation 11).
Training and assistance: Ballistic missile-related technology
The regulations prohibit providing any assistance (including technical or financial assistance) or training relating to the supply, sale, transfer, manufacture or use of any ballistic missile-related technology to any person in Iran (unless first approved by the Security Council and with an end-user guarantee accepted by the Secretary of Foreign Affairs and Trade) (see regulation 20).
Doing business with Iran
See further information about doing business with Iran.