UK Updates Russia Sanctions Guidance on Maritime Services Ban, Oil Price Cap
The U.K. updated its industry guidance on its Russia maritime services ban and oil price cap, noting the cap will stay under review and will be updated subject to the agreement of the Oil Price Cap Coalition. It also explains that, for the maritime services ban, a person supplying or delivering goods by ship includes a person who owns, controls, charters or operates a ship on which those goods are being carried from or to which those goods are being transferred, the EU Sanctions blog said April 12.
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The guidance also drops a section on bunker fuel and has a new section on blending and commingling of goods under Harmonized System headings 2709 and 2710; directs service providers who don't know which attestation tier links to a transaction to first consult the relevant General License and then contact OFSI if still unclear; adds a definition of "general financing facilities"; and adds to the advice on contractual clauses stating the unit price of Russian oil to be supplied or delivered is or will be below the price cap.