Oil Price Cap Teach-ins 

On 4 February, the Office of Financial Sanctions Implementation (OFSI) published updated guidance for the Maritime Services Prohibition and the related price caps on Russian crude oil and oil products.

To further support industry, OFSI will be hosting teach-ins from this week, tailored to specific sectors, including oil, shipping, insurance, and financial services.

These sessions will each last approximately 1.5 hours, and will cover the attestation and reporting processes, due diligence requirements, and OFSI enforcement approach. As well as addressing frequently asked questions across these topics, there will also be the opportunity for attendees to raise any specific questions.  

The content of these sessions does not constitute legal advice. OFSI is unable to provide guidance on specific situations and cases.

If you are interested in attending a teach-in, please contact oilpricecap.OFSI@hmtreasury.gov.uk for additional details, stating which sector you are in or interested in.

OFSI Notice