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…On 21st January, 2026, Article 3ma of Council Regulation (EU) No. 833/2014 (as amended) (the “Regulation”), enters into force. This introduces an import ban into the EU of petroleum products obtained in third countries…

… a notice of the of the average market price and amend the price cap if necessary on 15th January, 2026 and every six months thereafter (unless unforeseen circumstances / extraordinary reviews require…

…S port at a rate of $50 per net ton. The rate will then increase  on an annual basis beginning in April, 2026 and plateauing at $140 per net ton in April, 2028. Notably “owner” and “operator” are defined by…

… introduced, allowing for 275,000 tons of aluminium (i.e. 80% of EU imports in 2024). By the end of 2026, no Russian aluminium can be imported into the EU. Dual-use export restrictions have also been extended…

… (i.e. those exceeding 1 year and concluded before 17th June, 2025); and b) from 25th April, 2026, for short-term contracts. Expanding the transaction ban on Rosneft and Gazprom Neft; unlike the UK and…

… (in 2023) only be required to cover 20% of a ship’s emissions, increasing annually to 100% by 2026. Penalties: these have been increased under the new proposal.  It is currently anticipated that…