Russian Oil Services ban

OFSI General licence Oil Price Cap INT/2024/4423849 amended to update the Combined Nomenclature (CN) / Harmonized System (HS) commodity code for “Premium to Crude”, 2710 19 43, which now falls under 2710 19 42.

Oil Price Cap (OPC) Advisory: Evasion Linked to Product Origin Manipulation Through Fabricated and Falsified Certificates of Origin (CO) added.

Updated Price Cap Coalition Advisory for the Maritime Oil Industry and Related Sectors added 'Details' section updated

OFSI has updated the Oil Price Cap Exempt Projects and Countries GL – INT/2022/2470156 and updated the associated publication notice.

OFSI has upgraded the UK Maritime Services Ban and Oil Price Cap Industry Guidance into its new digital guidance format.

OFSI has updated the Oil Price Cap General Licence – INT/2024/4423859 and updated the associated publication notice. This excludes the supply or delivery of Russian oil by, or provision of relevant services to, “specified ships”. OFSI has updated the Oil Price Cap Guidance in relation to ship specification in Section 4.1 and 4.2 and in relation to extraordinary situations in Section 4.4.

The deadline for providing additional attestations or itemised ancillary costs has been increased from 28 days to 30 days.

GENERAL LICENCE – Oil Price Cap INT/2024/4423849 The new ‘Oil Price Cap’ General Licence (INT/2024/4423849) Updates to OFSI’s guidance in relation to the attestation model, with per-voyage attestations and itemised ancillary costs. The deadline for providing additional attestations or itemised ancillary costs has been reduced from 30 days to 28 days. The requirement to cease doing business with actors who refuse or fail to provide information has been clarified as being contract-specific and only applying to policies relating to the seaborne transportation of Russian oil and oil products.

GL updated with expiration date

Price Cap Coalition Oil Price Cap (OPC) Compliance and Enforcement Alert added

Updates to OFSI’s guidance in relation to the attestation model, with per-voyage attestations and itemised ancillary costs. Clarification on reporting requirements for UK nationals in third countries. Clarification on reporting timelines. Amendments to the tier system, with separation of Tier 3 into Tier 3A and 3B.

Update to General Licence INT/2022/2470156 to extend the expiration date of the Schedule 1 Exempt Projects, Sakhalin-2 Project, to 28 June 2024. Update to the Publication Notices document, reflecting the above change.

Updated compliance forms, and instructions for using them.

Updates to OFSI's guidance in relation to derivatives & futures trading, winddown periods and 'as soon as practicable' meaning. Publication of a derivatives and futures trading general licence.

Uploaded an updated version (April 2023) of the Guidance.

Slight change to numbering in overall guidance.

March 2023 update to the overall guidance.

Aligned form descriptions and order with updated uploaded documents

Added reporting forms and updated titles.

Russian Oil Services Ban - HMT Industry Guidance updated

GENERAL LICENCE – Products Oil Price Cap Wind-down INT/2023/2660772 added and HM Treasury Publication Notices 03-02-23, for INT/2022/2469656, INT/2022/2470256, INT/2022/2470056, INT/2022/2470156 and INT/2023/2660772

HM Treasury Publication Notices 05-1-23 for INT/2022/2469656, INT/2022/2470256, INT/2022/2470056 and INT/2022/2470156 added General licence, Oil Price Cap: Exempt Projects and Countries INT/2022/2470156 updated

HM Treasury Publication Notices for INT/2022/2469656, INT/2022/2470256, INT/2022/2470056 and INT/2022/2470156 added Russian Oil Services Ban - HMT Industry Guidance updated Reporting forms for General Licence INT/2022/2469656, INT/2022/2470256 and breaches updated

Title corrections

First published.