Sanctions Tracker: New UK Sanctions Regarding Russian Oil

The UK introduced further sanctions against Russia on 4 November 2022, via the Russia (Sanctions) (EU Exit) (Amendment) (No. 16) Regulations 2022 (the "No. 16 Regulations"). These introduce further amendments to the Russia (Sanctions) (EU Exit) Regulations 2019 (the "Russia Regulations"). The amendments introduced by the No. 16 Regulations will come into force on 5 December 2022 (although, as set out below, certain specific measures will not take effect until February 2023) and introduce further measures relating to Russian oil, as discussed further in this briefing.

Additional Russian oil restrictions

The No. 16 Regulations introduce prohibitions relating to Russian-origin oil and oil products falling within commodity codes 2709 (petroleum oils and oils obtained from bituminous materials, crude) and 2710 (petroleum oils and oils obtained from bituminous materials, other than crude) (respectively, "2709 Products" and "2710 Products"), prohibiting the following: