On February 5, 2016 the Governor in Council made a further amendment to the Special Economic Measures (Iran) Regulations (“SEMA Iran Regulations”) under the Special Economic Measures Act (SEMA). The amendment came into effect on February 5, 2016.
Among other changes, the amendment removes the broad prohibitions on providing or acquiring financial or other services to or from Iran and removes the prohibition on making investments in entities in Iran. The amendment also modifies the list of individuals and entities listed in Schedule 1 and subject to an asset freeze and dealings prohibition. Further details on the amendment can be found on the Canadian Sanctions Related to Iran page on the Global Affairs Canada website.