PART 7U.K.Exceptions and licences

[F1[F2Trade: exception in relation to maritime transportation of certain oil and oil productsU.K.

60HA.—(1) The prohibitions in regulations 46Z9B(1), 46Z9C(1) and 46Z9D(1) (maritime transportation of certain oil and oil products) are not contravened by a relevant activity in relation to any 2709 oil and oil products which—

(a)originate in a country that is not Russia,

(b)are not owned by a person connected with Russia, and

(c)are only being loaded in, departing from or transiting through Russia.

(2) The prohibitions in regulations 46Z9B(2), 46Z9C(2) and 46Z9D(2) are not contravened by a relevant activity in relation to any 2710 oil and oil products which—

(a)originate in a country that is not Russia,

(b)are not owned by a person connected with Russia, and

(c)are only being loaded in, departing from or transiting through Russia.

(3) For the purposes of paragraphs (1) and (2)—

“2709 oil and oil products” and “2710 oil and oil products” have the meanings given in regulation 46Z9A;

“relevant activity” means any activity which would, in the absence of this regulation, contravene the prohibitions specified in paragraph (1) or, as the case may be (2).]]

Textual Amendments