ERBIL, Kurdistan Region of Iraq - The UK government on Thursday announced sanctions against an Iranian banker accused of funding the activities of Iran’s Islamic Revolutionary Guard Corps (IRGC).

“Today we are announcing sanctions against corrupt Iranian banker and businessman, Aliakbar Ansari, for his role in financially supporting the activities of the IRGC,” read a statement from the UK’s Foreign, Commonwealth and Development Office (FCDO).

“This designation sends a clear message - we will not tolerate threats from the IRGC and will not hesitate to take the most effective measures against them,” added the statement.

Ansari, considered one of the richest men in Iran, was the owner of Ayandeh Bank, which had its operating license revoked and entered a controlled liquidation process last week. All of the bank’s deposits and liabilities were transferred to the National Bank of Iran.

Iranian state media labeled the decision a “political move” and accused London of having not provided "any credible documentation” for the sanctions.

The sanctions subject Ansari to an asset freeze, director disqualification, and travel, according to the FCDO statement.

The UK's move comes after the United Nations formally reimposed a global arms embargo and other sanctions on Iran in September through the “snapback” mechanism of the 2015 nuclear deal, formally known as the Joint Comprehensive Plan of Action (JCPOA). Britain, France, and Germany had triggered the “snapback”, accusing Tehran of noncompliance with the accord.

The renewed restrictions introduced a global ban on working with companies and individuals accused of cooperating with Iran’s nuclear and missile programs.

The UK has so far placed sanctions on over 500 individuals and entities over supposed links to Tehran and the Iranian nuclear program.