In short
- The licence permits activities necessary for the continued operation of the Shah Deniz Project.
- It is subject to conditions outlined in the Iran Nuclear Regulations under regulation 40.
What happened
OFSI published General Licence INT/2025/7363752 on 29 September 2025, authorizing Persons and Relevant UK Institutions to carry out activities required for the Shah Deniz Project’s ongoing operation. The licence is governed by regulation 40 of the Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019.
The licence sets specific conditions that must be followed for any permitted activity. Compliance officers should review the licence and its publication notice to ensure all actions related to the Shah Deniz Project adhere to the outlined requirements.
OFSI issued General Licence INT/2025/7363752 under regulation 40 of the Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019 (the “Iran Nuclear Regulations”) which allows Persons and Relevant UK Institutions to undertake any activity necessary for the continued operation of the Shah Deniz Project, subject to the conditions set out in the Licence.
Named in this item
Organization, regulator GB UK sanctions regime —
What compliance teams should check
- Review OFSI General Licence INT/2025/7363752 for permitted Shah Deniz Project activities.
- Verify compliance with conditions set out in the Iran Nuclear Regulations under regulation 40.
- Ensure all actions involving Persons and Relevant UK Institutions are documented as per the licence requirements.
Why it matters
This OFSI General Licence provides a legal framework for UK entities to continue operations related to the Shah Deniz Project, despite Iran-related sanctions. Compliance officers must ensure that all activities are strictly within the licence’s scope and conditions, as breaches could result in regulatory action. Understanding the licence’s requirements is essential for managing risk and maintaining compliance with the Iran Nuclear Regulations.
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