By Maya Lester KC & Michael O’Kane

OFSI issues new Oil Price Cap Guidance and General Licence

On 14 July 2023, OFSI issued General Licence INT/2023/3074680 permitting the trade in oil derivatives and futures previously prevented by regulation 46Z9C of the Russia (Sanctions) (EU Exit) Regulations 2019. The exemptions will apply to individuals, organisations and brokers trading in derivatives and futures based on Russian oil, as well as institutions processing payments in relation to these activities. OFSI…...

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About Michael O'Kane

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Michael is Senior Partner at Peters & Peters Solicitors LLP. He has acted in many of the most high profile and sensitive business crime cases of the last 25 years, at Peters &...

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