Canada Puts Iran's Oil Giants and Biggest Banks Back on Its Sanctions List
Canada has listed 11 Iranian entities again under its Special Economic Measures (Iran) Regulations, ten years after removing them under the Joint Comprehensive Plan of Action. Foreign Minister Anita Anand announced the move in Paris on 10 November 2026; the consolidated list dates the listings 5 November. The entities are the National Iranian Oil Company, Naftiran Intertrade, the National Iranian Tanker Company, Kala Naft, two nuclear fuel companies, Bank Mellat, Bank Melli Iran, the Bank of Industry and Mine, the Export Development Bank of Iran and Iran Insurance Company. Global Affairs Canada says they contributed to Iran's proliferation-sensitive nuclear activities and ballistic missile programme or to financing its malign activities. Persons in Canada and Canadians abroad may no longer deal with them. Separately, on 9 November OFAC amended the SDN entry of Volta Shipping Services LLC, a Dubai company in the Shamkhani shipping network, replacing the alias Volta Shipping Services FZCO with Volta Container Line FZCO.
This issue
- New designations
- 11
- Removals
- 0
- Entries amended
- 1
- Sources monitored
- 100
The JCPOA Delistings of 2016 Are Undone
Canada removed these 11 entities from its Iran sanctions in February 2016, after the International Atomic Energy Agency confirmed that Iran had met its first commitments under the Joint Comprehensive Plan of Action. Global Affairs Canada now says they contributed to Iran's proliferation-sensitive nuclear activities and ballistic missile programme or to financing its malign activities. It points to the IAEA Board's June 2025 finding that Iran was not meeting its safeguards obligations, Iran's suspension of cooperation with the agency, and the snapback of UN nuclear sanctions in September 2025. "Iran must never be allowed to obtain a nuclear weapon," Ms Anand said. The 11 sit in Schedule 1, Part 1.1 of the Special Economic Measures (Iran) Regulations, items 242 to 252. Canada has not published grounds for each entity.
On 9 November OFAC amended one entry on the SDN List. Volta Shipping Services LLC, a Dubai company designated on 14 July 2026 under E.O. 13902 and linked to Mohammad Hossein Shamkhani, now carries the alias Volta Container Line FZCO in place of Volta Shipping Services FZCO. Treasury said in July that Volta helps the Shamkhani network move goods to and from Iran, including to the Houthis. Nothing else in the entry changed, and the company remains blocked.
Party detail
Every row below was read against the issuing authority's own notice, not against a press report. Aliases are reproduced in full, including non Latin script forms, because the alias field is where a screening run usually fails. Identifiers are published sanctions data.
| Party | Action and instrument | Identifiers | Grounds |
|---|---|---|---|
| Kala Naft | DesignationSpecial Economic Measures Act; Special Economic Measures (Iran) Regulations, Schedule 1, Part 1.1 | Listed again under the Special Economic Measures (Iran) Regulations; Date of Listing 5 November 2026, announced by Foreign Minister Anita Anand on 10 November 2026. Canada had delisted the entity in February 2016 under the Joint Comprehensive Plan of Action. Global Affairs Canada says the 11 entities contributed to Iran's proliferation-sensitive nuclear activities and ballistic missile programme or to the financing of its malign activities. Canada has not published grounds for each listing. | |
| Naftiran Intertrade Company | DesignationSpecial Economic Measures Act; Special Economic Measures (Iran) Regulations, Schedule 1, Part 1.1 | Listed again under the Special Economic Measures (Iran) Regulations; Date of Listing 5 November 2026, announced by Foreign Minister Anita Anand on 10 November 2026. Canada had delisted the entity in February 2016 under the Joint Comprehensive Plan of Action. Global Affairs Canada says the 11 entities contributed to Iran's proliferation-sensitive nuclear activities and ballistic missile programme or to the financing of its malign activities. Canada has not published grounds for each listing. | |
| National Iranian Oil Company | DesignationSpecial Economic Measures Act; Special Economic Measures (Iran) Regulations, Schedule 1, Part 1.1 | Listed again under the Special Economic Measures (Iran) Regulations; Date of Listing 5 November 2026, announced by Foreign Minister Anita Anand on 10 November 2026. Canada had delisted the entity in February 2016 under the Joint Comprehensive Plan of Action. Global Affairs Canada says the 11 entities contributed to Iran's proliferation-sensitive nuclear activities and ballistic missile programme or to the financing of its malign activities. Canada has not published grounds for each listing. Canada's list pairs this name with the French form 'Société Naftiran Intertrade', which is the French name of another entity; it is not carried here as an alias. | |
| National Iranian Tanker Company | DesignationSpecial Economic Measures Act; Special Economic Measures (Iran) Regulations, Schedule 1, Part 1.1 | Listed again under the Special Economic Measures (Iran) Regulations; Date of Listing 5 November 2026, announced by Foreign Minister Anita Anand on 10 November 2026. Canada had delisted the entity in February 2016 under the Joint Comprehensive Plan of Action. Global Affairs Canada says the 11 entities contributed to Iran's proliferation-sensitive nuclear activities and ballistic missile programme or to the financing of its malign activities. Canada has not published grounds for each listing. Canada's list pairs this name with the French form 'Société nationale iranienne du pétrole', which is the French name of another entity; it is not carried here as an alias. | |
| Nuclear Reactors Fuel Company | DesignationSpecial Economic Measures Act; Special Economic Measures (Iran) Regulations, Schedule 1, Part 1.1 | Listed again under the Special Economic Measures (Iran) Regulations; Date of Listing 5 November 2026, announced by Foreign Minister Anita Anand on 10 November 2026. Canada had delisted the entity in February 2016 under the Joint Comprehensive Plan of Action. Global Affairs Canada says the 11 entities contributed to Iran's proliferation-sensitive nuclear activities and ballistic missile programme or to the financing of its malign activities. Canada has not published grounds for each listing. | |
| Nuclear Fuel Production and Procurement Company | DesignationSpecial Economic Measures Act; Special Economic Measures (Iran) Regulations, Schedule 1, Part 1.1 | Listed again under the Special Economic Measures (Iran) Regulations; Date of Listing 5 November 2026, announced by Foreign Minister Anita Anand on 10 November 2026. Canada had delisted the entity in February 2016 under the Joint Comprehensive Plan of Action. Global Affairs Canada says the 11 entities contributed to Iran's proliferation-sensitive nuclear activities and ballistic missile programme or to the financing of its malign activities. Canada has not published grounds for each listing. | |
| Bank Mellat | DesignationSpecial Economic Measures Act; Special Economic Measures (Iran) Regulations, Schedule 1, Part 1.1 | Listed again under the Special Economic Measures (Iran) Regulations; Date of Listing 5 November 2026, announced by Foreign Minister Anita Anand on 10 November 2026. Canada had delisted the entity in February 2016 under the Joint Comprehensive Plan of Action. Global Affairs Canada says the 11 entities contributed to Iran's proliferation-sensitive nuclear activities and ballistic missile programme or to the financing of its malign activities. Canada has not published grounds for each listing. | |
| Bank Melli Iran | DesignationSpecial Economic Measures Act; Special Economic Measures (Iran) Regulations, Schedule 1, Part 1.1 | Listed again under the Special Economic Measures (Iran) Regulations; Date of Listing 5 November 2026, announced by Foreign Minister Anita Anand on 10 November 2026. Canada had delisted the entity in February 2016 under the Joint Comprehensive Plan of Action. Global Affairs Canada says the 11 entities contributed to Iran's proliferation-sensitive nuclear activities and ballistic missile programme or to the financing of its malign activities. Canada has not published grounds for each listing. | |
| Bank of Industry and Mine | DesignationSpecial Economic Measures Act; Special Economic Measures (Iran) Regulations, Schedule 1, Part 1.1 | Listed again under the Special Economic Measures (Iran) Regulations; Date of Listing 5 November 2026, announced by Foreign Minister Anita Anand on 10 November 2026. Canada had delisted the entity in February 2016 under the Joint Comprehensive Plan of Action. Global Affairs Canada says the 11 entities contributed to Iran's proliferation-sensitive nuclear activities and ballistic missile programme or to the financing of its malign activities. Canada has not published grounds for each listing. | |
| Export Development Bank of Iran | DesignationSpecial Economic Measures Act; Special Economic Measures (Iran) Regulations, Schedule 1, Part 1.1 | Listed again under the Special Economic Measures (Iran) Regulations; Date of Listing 5 November 2026, announced by Foreign Minister Anita Anand on 10 November 2026. Canada had delisted the entity in February 2016 under the Joint Comprehensive Plan of Action. Global Affairs Canada says the 11 entities contributed to Iran's proliferation-sensitive nuclear activities and ballistic missile programme or to the financing of its malign activities. Canada has not published grounds for each listing. | |
| Iran Insurance Company | DesignationSpecial Economic Measures Act; Special Economic Measures (Iran) Regulations, Schedule 1, Part 1.1 | Listed again under the Special Economic Measures (Iran) Regulations; Date of Listing 5 November 2026, announced by Foreign Minister Anita Anand on 10 November 2026. Canada had delisted the entity in February 2016 under the Joint Comprehensive Plan of Action. Global Affairs Canada says the 11 entities contributed to Iran's proliferation-sensitive nuclear activities and ballistic missile programme or to the financing of its malign activities. Canada has not published grounds for each listing. | |
| Volta Shipping Services LLC | AmendmentExecutive Order 13902 (sectors of the Iranian economy); SDN tag [IRAN-EO13902] | Identifier: License 784220 (United Arab Emirates)Identifier: alt. License 50335 (United Arab Emirates)Chamber of commerce number: 290374 (United Arab Emirates)Registration number: 1290166 (United Arab Emirates)Identifier: Economic Register Number (CBLS) 10957213Identifier: established 7 Jun 2017 (alt. 1 Oct 2023)Address: Office No 1-024, Al Garhoud, Deira, Dubai, United Arab Emirates; Business Cluster Building 3 108, Fl 1, Dubai, United Arab Emirates | SDN entry amended by OFAC on 9 November 2026: the alias VOLTA SHIPPING SERVICES FZCO is replaced by VOLTA CONTAINER LINE FZCO. No other field changes and the entity remains blocked. Designated on 14 July 2026 under E.O. 13902; Treasury release sb0562 says Volta, with Sea Lead and its subsidiaries, enables the container shipping network of Mohammad Hossein Shamkhani to carry goods to and from Iran, including to the Houthis. |
What this means for your organisation
- 01
Tag the 11 names for Canada today: Where your file already holds them under OFAC, UK or EU programmes, add the Canadian listing (Iran regulations, Schedule 1, Part 1.1, items 242 to 252, listed 5 November) so Canadian business lines see the hit.
- 02
Canadian institutions: freeze and report now: The dealings ban has applied since 5 November; check accounts, policies, letters of credit and pending payments and report any property held to the RCMP and CSIS as the Special Economic Measures Act requires.
- 03
Widen the name variants: Add the acronyms and transliterations for each entity (NIOC, NITC, NICO, Bimeh Iran, Bank Sanat va Madan, EDBI) because Canada published names only.
- 04
Update the Volta alias: Replace Volta Shipping Services FZCO with Volta Container Line FZCO on SDN 58138, keep the old form as a historical alias, and re-screen container shipping and freight forwarding counterparties.
- 05
Review trade and marine books: Tanker, crude and insurance exposure to NIOC, NITC, Naftiran Intertrade and Iran Insurance Company is now prohibited for Canadian persons; check charter parties, P&I and reinsurance chains.
Where this issue came from
The map plots the sources Youverify monitors. The pulsing markers are the two authorities cited in this issue: GLOBAL-AFFAIRS-CANADA and US-OFAC. Hover any marker to name the sources read there.
Method statement
Canada's 11 listings are read from its consolidated sanctions list of 10 November against the copy of 9 November (11 new records under the Iran regulations, all dated 5 November, none removed or changed). OFAC's amendment is read word for word from its Recent Actions notice of 9 November and confirmed in the alias data file of 10 November (one alias replaced, nothing else changed). Context comes from the Global Affairs Canada release and backgrounder of 10 November and Treasury release sb0562. Names were checked against the UK, EU and US lists.
Corrections
No corrections issued for this issue. Corrections are published on the issue they affect, dated, with the original text retained.Cite this issue
Vyra from Youverify. "Canada Puts Iran's Oil Giants and Biggest Banks Back on Its Sanctions List." Youverify Sanctions Monitor, issue 162, 10 November 2026. https://youverify.co/en/sanctions/2026-11-10. Accessed 10 November 2026.