On 21 January 2026, the EU’s restrictions on the import of refined petroleum products deriving from Russian-origin crude oil entered into force. The restrictions, introduced as part of the EU’s 18th package of sanctions targeting Russia under Article 3ma of EU Regulation 833/2014 (as previously summarised in our blog post here), prohibit the direct or indirect purchase, import or transfer into the EU of refined petroleum products obtained from third countries that derive from Russian-origin…
On 15 January 2026, the EU applied its new automatic and dynamic adjustment mechanism to the Oil Price Cap (“OPC”) on seaborne Russian crude oil, reducing the cap from USD 47.60 to USD 44.10 per barrel, effective 1 February 2026. The mechanism ensures that the OPC remains 15% below the average Urals crude market price over a rolling 22‑week period. On the same day, the UK confirmed that it would lower its OPC to USD…
The EU and UK have recently updated their respective lists of items subject to dual-use export controls, introducing important changes covering emerging technologies. In this blog post, we summarise the key updates under both the EU and UK regimes, and we highlight key steps that exporters can take in response to the changes. EU updates to the EU Dual-Use Regulation On 14 November 2025, the EU published Delegated Regulation (EU) 2025/2003, amending Annex I of…
On 15 October 2025, the UK Office of Financial Sanctions Implementation (“OFSI”) published its 2024-2025 annual review (see here). The report summarises OFSI’s activities for the 2024-2025 financial year and explains that the authority’s work has been centred around three pillars: compliance, capability, and enforcement. We have summarised below some of the key points highlighted in the report. Investigations and Enforcement Licensing Threat Assessment Reports International Collaboration Legislative Enhancements Looking Ahead: Strategy Refresh and 10-Year Anniversary