Webinar: G7 Russian oil price cap

Webinar Series

Friday 16 December 2022, 12.00 - 1.00pm UK time

Last week we saw the introduction of the first limb of the G7 Russian oil price cap, representing yet another novel element of the sanctions imposed on Russia in response to the invasion of Ukraine. Rather than imposing outright bans on dealings with Russian oil, in September of this year the G7 introduced a plan to impose a cap on the price importers pay for Russian oil with a view to shrinking a key source of revenue used by Russia to finance the war. The oil price cap measures therefore ban the provision of services related to the seaborne transportation of Russian origin oil and oil products, unless purchased at or below the so-called price cap, thereby impacting importers of oil based in third countries which have not imposed sanctions on Russia where those importers rely on insurance cover and shipping services from UK, EU and US companies.

The price cap measures introduced by the UK, EU and US in respect of crude oil came into force on 5 December, with equivalent measures for petroleum products to follow on 5 February 2023. In this webinar, we will bring together sanctions experts from around the HSF network to discuss the way in which the price cap measures will operate in each key jurisdiction and to consider the potential challenges that may arise for companies wishing to deal in Russian oil and those who provide related services.

Please register here: https://register.gotowebinar.com/register/1551495996769256792

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