Sanctions also target the Basij volunteer militia and six Iranian individuals linked to the Islamic dictatorship’s violent crackdown on protesters in the country.
The widespread protests erupted after 22-year-old Mahsa Zhina Amini died in moral police custody on 16 September.
Australia is also joining international efforts to target economic sanctions against the sale of Iranian drones to Russia, which have been used in the war in Ukraine.
“Australia stands with the people of Ukraine and with the people of Iran,” Australian Foreign Minister Penny Wong said in a statement.