These Regulations from the UK amend 2019 Regulations to prohibit the provision by affected persons of the supply or delivery by ship of certain oil and oil products (in Commodity Codes 2709 and 2710) from a place in Russia to a third country, or from one third country to another third country, together with related ancillary services, including brokering services and financial services.  They also confer on OFSI the power to impose civil monetary penalties on a person who fails to comply with these new trade measures.  Existing criminal penalties for breaches of trade sanctions also apply.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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