Britain has backed a new US campaign to intensify economic pressure on Iran, as Chancellor John Healey revealed that the UK Government has imposed more than 240 sanctions on Iran since taking office.
In a statement published by HM Treasury, Healey said Britain would continue working alongside the United States and other international partners to apply economic pressure on Tehran.
He also welcomed efforts to increase that pressure through the Trump administration's newly announced Operation Economic Outcast.
More than 240 UK sanctions imposed
Healey said the Government had imposed more than 240 sanctions on Iran since taking office.
He said the measures targeted people and organisations whose activities the Government considers a threat to British citizens and national security.
The Chancellor said ministers were determined to prevent Iran from exploiting the global economy and abusing the UK financial system to advance its nuclear programme and what the Government describes as wider destabilising activity.
The figure of more than 240 sanctions was provided by HM Treasury and refers to measures imposed by the current Government.
UK welcomes Operation Economic Outcast
The US Treasury has launched Operation Economic Outcast as part of a significant expansion of economic pressure on Iran.
Reuters reported that the latest US action includes sanctions against nearly 60 Iran-linked individuals, organisations and vessels.
The campaign also broadens the threat of secondary sanctions against businesses and countries maintaining economic links with Iran across sectors including shipping, aviation, technology, gold and digital assets.
Healey said Britain supported US efforts to secure a diplomatic solution and welcomed attempts to increase economic pressure, specifically including Operation Economic Outcast.
However, the UK Government has not announced that every designation or secondary-sanctions measure introduced by Washington will automatically be replicated in Britain.
Healey says UK will act over Strait of Hormuz
The Chancellor also said Britain would continue working with international partners to protect its interests and take what he described as the necessary steps to reopen the Strait of Hormuz.
The strategically important waterway has been at the centre of heightened tensions involving Iran and the United States and is a major route for global energy supplies.
Healey accused Iran of dangerous activity in the Strait and called on Tehran to cease destabilising actions across the region.
He also urged the Iranian Government to engage in diplomatic discussions in good faith.
US targets Iran's wider economic network
Reuters reported that the new American measures target networks linked to Iran's ballistic missile and nuclear programmes, military procurement, oil trading and cyber activity.
The US has also warned that companies and countries continuing certain forms of business with Iran could face secondary sanctions restricting their access to the American financial system.
The measures significantly increase the potential consequences for third parties trading with Iran, although Washington has not immediately imposed penalties on every country or major financial institution with economic links to Tehran.
Iran condemns new sanctions
Iran has condemned the expanded US sanctions and rejected Washington's pressure campaign.
Iranian officials have argued that the measures are unlawful and have said Tehran will resist attempts to isolate the country economically.
Those statements represent the Iranian Government's position and do not alter the fact that the United States has announced the additional sanctions and Britain has publicly welcomed increased economic pressure.
Britain aligns with US pressure while backing diplomacy
Healey's statement places the UK firmly behind stronger economic pressure on Iran while continuing to present diplomacy as the preferred route to resolving the confrontation.
The announcement does not amount to Britain adopting the entire American sanctions regime, but it confirms that the Government supports the direction of the US campaign and intends to continue imposing its own measures.
The combination of more than 240 UK sanctions, support for Operation Economic Outcast and Healey's comments on the Strait of Hormuz represents a significant statement of the Government's current approach towards Iran.