UK extends Sakhalin-2 Russian oil exemption through year-end

LONDON, October 1, 2026 — The UK extended through Dec. 31 an oil-price-cap exemption covering seaborne Russian oil from the Sakhalin-2 project to Japan, preserving a narrow route under its maritime-services sanctions.

The Office of Financial Sanctions Implementation, part of HM Treasury, amended General Licence INT/2022/2470156 on Oct. 1. The licence previously gave the Sakhalin-2 exemption an expiration date of June 28, 2026.

The publication does not explain how the amendment treats activity during the interval between the previous expiration date and the Oct. 1 amendment.

Under the exemption, oil originating in or consigned from Sakhalin-2 may be supplied or delivered by ship from Russia to Japan. Service providers may also support that transport. The permission does not extend to reselling Russian oil to or in a third country.

The extension is relevant to shipping companies, insurers, financial institutions and other service providers relying on the licence because it changes the expiration date used to assess whether covered activity falls within the exemption. Reporting and record-keeping conditions under the general licence continue to apply.

The broader licence also contains limited permissions involving Bulgaria, Croatia and certain landlocked European Union member states. The Oct. 1 amendment described in the publication notice changes only the expiration date for the Sakhalin-2 project exemption.