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

Documents

Current list of designated persons: Unauthorised Drilling Activities

PDF, 19.9 KB, 1 page

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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’s Turkey sanctions regime.

UK regulations

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

Find out more about UK sanctions relating to unauthorised drilling activities

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

  1. Updated historic regulations

  2. First published.

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