UK's New Russian Sanctions Related to Oil Restrictions Become Effective Dec. 5
New U.K. sanctions regulations will enter into force on Dec. 5. The measures move up the implementation date for import bans relating to Russian oil and oil products, from Dec. 31; bar the supply or delivery by ship of Russian…
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oil and oil products from Russia to a third country or from a third country to another third country; ban the provision of financial services to facilitate the supply or delivery of Russian oil and oil products from Russia to a third country; grant exceptions to the measures where the banned oil and oil products originate in a non-Russian country and are not owned by a person connected with Russia and are only being loaded in, leaving or transiting through Russia; and give the Office of Financial Sanctions Implementation the power to hit offenders with civil monetary penalties.