The Export Control Organisation (ECO) has published an FAQ to assist exporters in understanding the implications of the recent sanctions that were imposed in respect of Russia under Council Regulation (EU) No 833/2014 (the “Regulation“).
UK BIS is currently reviewing extant licences to ensure they are consistent with the Regulation and will contact licence holders directly if they are affected by the new sanctions. The FAQ further provides information on how exporters may apply for a licence as well as the process by which an exporter may appeal a decision where a licence has been refused.
The FAQ also provides information on a number of terms and concepts which are used in the Regulation, including “Arctic”, “deep water”, “technical assistance” and “financial assistance”.
Please click here to view the FAQ.
