UK’s expanded Iran sectoral sanctions take effect on 29 Sept 2026

On 29 September 2026 the UK brought into force the Iran (Sanctions) (Amendment) Regulations 2026 (SI 2026/983), introducing expanded trade, financial and transport restrictions (including energy, petrochemicals, shipping, sectoral software and prohibitions on Iranian bonds) and new controlled-goods schedules.

The UK measures widen export/import prohibitions and tighten financial, shipping and insurance restrictions, which will raise compliance and logistics costs for firms transacting with Iran. For African fuel- and trade-importing sovereigns and corporates (e.g., Kenya), this can translate into higher import bills and FX pressure where alternative sourcing or insurance is more costly; oil exporters may see relatively less disruption if they capture higher premia. Actual sovereign spread or FX moves will depend on financing, hedging and specific trade exposures rather than the sanctions text alone.

March 7, 2027 — wind-down deadline for sectoral software contractual obligations under the new rules.