Guidance

Financial sanctions, Unauthorised Drilling Activities

Financial sanctions are in place for persons involved in unauthorised drilling activities. To date, no targets have been designated by the UK.

From:
Office of Financial Sanctions Implementation and HM Treasury
Published
31 December 2020
Last updated
4 January 2021 鈥� See all updates

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Details

The Unauthorised Drilling Activities in the Eastern Mediterranean (Sanctions) (EU Exit) Regulations 2020 ensure sanctions relating to unauthorised drilling activities in the Eastern Mediterranean are implemented effectively after the UK leaves the EU.

Context

The Unauthorised Drilling Activities in the Eastern Mediterranean (Sanctions) (EU Exit) Regulations 2020 put in place sanctions measures to discourage any hydrocarbon exploration, production or extraction activity which has not been authorised by the Republic of Cyprus. This includes activity in its territorial sea, or in its exclusive economic zone or on its continental shelf.

This regime replaces the EU鈥檚 Turkey sanctions regime.

UK regulations

  • (applicable prior to 11:00pm, 31 December 2020)

EU regulations (applicable prior to 11:00pm, 31 December 2020)

Find out more about UK sanctions relating to unauthorised drilling activities

Updates to this page

Published 31 December 2020
Last updated 4 January 2021 show all updates

  1. Updated historic regulations

  2. First published.

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