In this episode, Global Head of Regulatory & Tax Aki Corsoni-Husain, and guest expert Ray-Shio Ho from Reed Smith in London explore the oil and gas sanctions currently in place on Russia following the war in the Ukraine in 2022.

 Key takeaways:

• Providing listeners with a round up and overview of current energy-sector related sanctions on Russia.
• Understanding whether there is global consensus on the oil price cap and whether it has achieved its objectives.
• Outlining plans for development in the offshore sanctions landscape and how they prohibit the purchase or import of Russian oil and alignment on the price cap coalition rules.
• Understanding the general attitude of offshore regulators in relation to complex corporate structures in the oil and gas sector when involving entities incorporated in their jurisdiction.
• Focussing on Gazprom as Russia’s largest gas producer and outlining the sanctions it now subject to as a group.
• Exploring what constitutes “reasonable due diligence” of structures and understanding the controlling mind or operations of the company, in particular when applying for sanctions licences.