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.
Documents
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
- The Unauthorised Drilling Activities in the Eastern Mediterranean (Sanctions) (EU Exit) Regulations 2020
- The Turkey (Asset-Freezing) Regulations 2019 (applicable prior to 11:00pm, 31 December 2020)
EU regulations (applicable prior to 11:00pm, 31 December 2020)
Find out more about UK sanctions relating to unauthorised drilling activities
Updates to this page
Published 31 December 2020Last updated 4 January 2021 + show all updates
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Updated historic regulations
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First published.