The Treasury advises that the Export Control (Russia, Crimea and Sevastopol Sanctions) (Amendment) Order 2014 (Application) Order 2014 has been made and comes into operation with effect from 29 November 2014.
This new Order provides for offences and penalties for contravention of certain prohibitions contained in the Russia Sanctions Regulation (Council Regulation (EU) No 833/2014), as amended by Council Regulation (EU) No 960/2014.
The amended Russia Sanctions Regulation now includes a prohibition on trade with Russia in dual-use goods and technology to certain listed persons and entities, or the provision of technical assistance, brokering, financing or financial assistance related to those goods to the listed persons and entities.
This would include a prohibition on the provision of certain services necessary for deep water or Arctic oil exploration and production or shale oil projects in Russia, and would cover such things as drilling, well testing and the supply of specialised floating vessels.
For more information please contact Customs and Excise.
