The Russia (Sanctions) (EU Exit) Regulations 2019

[F1Financial services and funds relating to oil and oil productsU.K.

This section has no associated Explanatory Memorandum

46Z8.—[F2(1) A person must not, on or after the relevant day, directly or indirectly provide financial services or funds in pursuance of or in connection with an arrangement whose object or effect is—

(a)the import of oil and oil products which—

(i)originate in Russia, or

(ii)are consigned from Russia;

(b)the direct or indirect acquisition of oil and oil products which—

(i)originate in Russia, or

(ii)are located in Russia,

with the intention of those goods entering the United Kingdom;

F3(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

[F4(2)] [F5Paragraph (1) is] are subject to Part 7 (Exceptions and licences).

[F6(3)]  A person who contravenes the prohibition in paragraph (1) commits an offence, but it is a defence for a person charged with that offence to show that the person did not know and had no reasonable cause to suspect that the financial services or funds (as the case may be) were provided in pursuance of or in connection with an arrangement mentioned in that paragraph.]

Textual Amendments