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UK Maritime Services Ban and Oil Price Cap Exception Industry Guidance

19 June 2023
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UK Maritime Services Ban and Oil Price Cap Exception Industry Guidance

The Office of Financial Sanctions Implementation (OFSI) has published its UK Maritime Services Ban and Oil Price Cap Exception Industry Guidance, which outlines obligations under the Ban, as well as outlining OFSI’s approach to implementation and enforcement.

The guidance concerns derivatives and futures trading, winddowns periods, and the meaning of ‘as soon as practicable’; and is accompanied by the publication of a derivatives and futures trading General Licence.

Firms should ensure they read the latest version of the regulations and understand the application and territorial extent of the regulations.
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