Canada Reimposes Sanctions on 11 Iranian Companies Over Nuclear and Missile Programmes

Canada has reimposed sanctions on 11 Iranian companies operating in the energy and banking sectors, accusing them of supporting Iran’s nuclear programme, ballistic missile development and the financing of activities it considers harmful to international security.

The Canadian government announced the decision on Tuesday, November 10, 2026, saying the measures were aimed at disrupting financial networks linked to Iran’s nuclear ambitions.

Among the affected companies are the National Iranian Oil Company and two major financial institutions, Bank Mellat and Bank Melli. The organisations had previously been removed from Canada’s sanctions list in 2016.

However, the Canadian foreign ministry said the restrictions were being restored to prevent Iranian financial networks from supporting the country’s nuclear programme.

The announcement was made on the sidelines of the Group of Seven (G7) meeting in Paris, where international security and other global issues are being discussed.

The sanctions target companies operating in sectors considered important to Iran’s economy, particularly energy and banking. Canada said their activities had contributed to Iran’s nuclear and ballistic missile programmes, as well as the financing of what it described as “malign activities”.

The latest decision marks a reversal of Canada’s 2016 move to delist the companies. It also signals renewed restrictions on Iranian businesses and financial institutions over concerns surrounding Tehran’s nuclear and military activities.