This is the second UK sanction package targeting individuals in the West Bank, with the first being announced by the Foreign, Commonwealth & Development Office in mid-February.
Israel initially sought to release 40 hostages, including women, children, the seriously ill, and female soldiers.
In October, London's High Court will hear a Palestinian rights group's case against British arms exports to Israel, alleging breaches of international law.
Israeli FM Israel Katz and President Isaac Herzog thanked the two German officials for their support and called on them to work decisively against the Iranian regime.
International community urges restraint as war cabinet debates action
The European Union's foreign policy chief said on Monday the Middle East stood "on the edge of the cliff" and called for de-escalation in the conflict between Israel and Iran.
“Hamas could move forward with this immediately and get a ceasefire that would benefit people throughout Gaza as well as of course get the hostages home,” US Secretary of State Antony Blinken said.
Some commentators hold that Britain’s Foreign Office believed designating the IRGC would probably lead to the expulsion of the UK ambassador and jeopardize the UK’s capacity to negotiate with Iran.
UK summons Israeli ambassador over deaths of aid workers in Gaza on Tuesday,
The workers, who also included Palestinians and a dual citizen of the United States and Canada, were traveling in two armored cars emblazoned with the WCK logo and another vehicle.