Turkey Freezes Assets Linked to Iran’s Nuclear Program

Post by : Raina Nasser

Turkey has announced it is freezing the assets of 11 individuals and 21 entities connected to Iran’s nuclear program, implementing measures required under United Nations Security Council resolutions. The decision comes after the reimposition of UN ‘snapback’ sanctions on Iran on September 27, triggered by France, Germany, and the United Kingdom following violations of Iran’s 2015 nuclear commitments.

Turkish President Recep Tayyip Erdoğan signed a decree enforcing UN Security Council resolutions on weapons proliferation, according to Turkey’s Official Gazette. Among those targeted are Iranian nationals linked to key nuclear facilities, including the Natanz enrichment plant, the Atomic Energy Organisation, and the Isfahan Nuclear Fuel Research and Production Centre.

The list of frozen entities includes the Atomic Energy Organisation of Iran, Bank Sepah and Bank Sepah International, Esfahan Nuclear Fuel Research and Production Centre, Karaj Nuclear Research Centre, and Novin Energy Company.

This move is significant given Turkey’s strong economic ties with Iran, with bilateral trade reaching around $16 billion this year. Historically, Turkey has played a role in facilitating Iranian trade despite Western sanctions. The freeze comes amid ongoing legal issues for Turkey’s state-owned Halkbank, which faces US charges for allegedly helping Iran move $20 billion through front companies and money services to evade sanctions.

Turkey’s action reflects its balancing act as a NATO member managing complex regional relations. Following the announcement, Iranian Defence Minister Aziz Nasirzadeh met with Turkish Defence Minister Yaşar Güler in Ankara to discuss bilateral defense cooperation and regional security. Nasirzadeh noted that Iran and Turkey share more common ground than differences, despite attempts by external actors to exaggerate conflicts.

The decree takes effect immediately and will be administered by Turkey’s Treasury and Finance Ministry, marking a significant step in aligning with international sanctions while maintaining strategic relations with Iran.