Course details

Dates are currently being finalised. Get in touch to find out more
Download course brochure

Euromoney Learning On-Demand

Powered by Finance Unlocked

Learn about every aspect of finance, delivered through one-off videos and in-depth pathways

Learn More

VAT on Virtual and Online Programmes

VAT is applicable on virtual programmes to delegates attending from the UK*. If participating from the EU, a valid VAT number is required to ensure VAT will not be charged under the reverse charge mechanism. VAT is not applicable to attendees from all other countries.
*For virtual courses ran through our Asia office, VAT may be applicable to HK and Singapore residents only. Find out more by contacting


Claiming Back Your VAT

All attendees of a London based course incur VAT as a part of the cost of attendance.

Euromoney Learning have partnered with VAT IT to allow you the unique opportunity to recoup the VAT incurred.

Using VAT IT's extensive experience and simple sign-up and refund process, every invoice can be turned into cash for your business.

Claim the VAT that's rightfully yours in four simple steps:

1. Register your interest

2. Sign a few simple documents

3. VAT IT processes your claim

4. Receive your refund

Why choose VAT IT 

VAT IT have spent two decades identifying, researching and perfecting the foreign VAT Reclaim process and built the best back end technology in the industry. By partnering with Euromoney Learning, we can provide you with a fast and effective way to reclaim your VAT which helps reduce the cost of your training.

VAT IT will charge a percentage of the VAT refund if/when it is successful. 

Can I claim back the VAT myself?

You can claim back VAT directly from the UK Tax Authority (HMRC) by completing the following form. 
For European clients, please refer to form VAT 65
All other clients, please refer to form VAT 65A.


You may also be able to claim back your VAT against courses taking place outside of the UK, and we would recommend contacting VAT IT, our specialist partner, to discuss how to do this.

Economic Sanctions on Oil and Gas Development


    Governments and international bodies have imposed economic sanctions affecting the oil and gas industry in various forms including:

    • embargos on the importation of crude oil and finished products
    • prohibition on the export of oil field technology and service
    • restrictions on financial transactions
    • sequestration of assets; and
    • limitations on personal travel

    Sanctions are adopted for the purpose of achieving domestic and foreign policy goals that range from combating money-laundering to curbing state-sponsored aggression. As a general rule, economic sanctions are primarily imposed on a target-state. However, secondary sanctions can be levelled at third-parties as well.

    Commercial and financial organizations must know which countries, transactions, and entities, are subject to economic sanctions. With this awareness, they are able to satisfy their compliance obligations in terms of licencing, reporting and seeking waivers. At the same time, they can structure the terms and conditions of their agreements to provide the flexibility for suspension or termination of performance for the duration of the sanction period.


    The material in this course has been designed to benefit a cross-section of personnel with the following positions:

    • Commercial and financial managers involved in oil and gas operations or trading relationships with Sanction Targets;
    • Legal advisers whose oil and gas clients either engage in transaction with, or are themselves, Sanction Targets; and
    • Officials in governments where Sanction Targets conduct oil and gas operations or have commercial arrangements


    This course addresses the impact of the current array of international and unilateral economic sanctions on the international Oil & Gas industry. Particular attention is given to:

    • Oil & Gas sectors of specific sanction targets (Russia, Iran and Qatar);
    • Obligations imposed on compliance under UK, US, EU and UN sanction regimes;
    • Secondary sanctions on third-parties in dealing with entities and individuals that are sanction and counter sanction targets;
    • Applying for licences and waivers; and

    Negotiating and drafting contracts to deal with the imposition of economic sanctions.


  • DAY 1

    Features of Economic Sanctions

    • Trade Embargos
    • Financial Restrictions
    • Export/Import Prohibition
    • Travel Bans

    Sanctions Targeted at Oil & Gas

    • Restricting light oil and gasoline exports
    • Banning the sale of certain oil-related equipment
    • Preventing the importation of crude oil, natural gas or LNG
    • Prohibiting the use of currency to pay for petroleum transactions

    Sanction Setting Bodies

    • United Nations
    • European Union
    • National Governments

    Implementation & Administration


    • General Assembly
    • Security Council
    • Member States

    European Union

    • European Commission
    • European Council of Ministers
    • Member States

    United Kingdom

    • Foreign & Commonwealth Office (FCO)
    • Border Agency
    • HM Treasury, Office of Financial Sanctions Implementation (OFSI)
    • Export Control Organization (ECO), Department for Business, Innovation and Skills (BIS)

    United States

    • Office of the President of the United States
    • Office of Economic Sanctions Policy and Implementation (EB/TFS/SPI), Department of State
    • Office of Foreign Assets Control (OFAC), Department of Treasury
    • Bureau of Industry & Security, Department of Commerce

    UAE & Saudi Arabia

    • National Cabinets & Council of Ministers
    • Transportation Authorities

    Sanctions & Targets

    • Russia
    • Iran
    • Qatar
    • Other Countries


    • Equipment and technology for unconventional exploration and production
    • Joint Ventures
    • Gas supply to EU
    • Foreign Financing
    • Individuals & Firms


    • Purchase of Petroleum & Petroleum Products
    • Energy Sector
    • Financial Institutions
    • Insurance & Underwriting
    • US Secondary Sanction ‘Snap-back’


    • LNG Exports


    • Venezuela – US Targeted Sanctions on PDVSA
    • Sudan – Partial lifting of US/UN Sanctions

    Exercise: Time Charter with subsidiary of Sanction Target


    DAY 2

    3rd Parties

    • Participating in Joint Operations with Sanction Targets
    • Procurement of Goods and Services
    • Sale of Production


    • Implementation

    UN Subsidiary Organs & Expert Panels

    EU Commission, National Implementation

    US Office of Foreign Asset Control (OFAC)

    UK Office of Foreign Sanctions Implementation (OFSI)

    • Obligations

    Responsibilities of firms and employees

    Application for Waiver, Authorization or License


    • Penalties

    Exercise: Sanction Regime & Waivers for Russian LNG


    DAY 3

    Sanctions Risk Assessment

    • Due Diligence
    • OFAC/OFSI Consultation
    • Customers
    • Supply chain
    • Intermediaries, and counter-parties
    • Products and services
    • Networks, or systems
    • Geographic locations

    Negotiating & Drafting Contracts in an Era of Economic Sanctions

    • Warranty & Disclosure
    • Sanctions as Force Majeure
    • Suspension & Termination
    • Limitation of Liability
    • Frustration of Performance
    • Insurance
    • Unenforceable Restrictions on Trade
    Exercise: Checklist for Sanctions Risk Assessment


  • Our Tailored Learning Offering

    Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course and dramatically increase your ROI.

    If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

    We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

  • We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

    We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

    • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
    • Track record – 10/10 of the world’s largest banks have chosen us as there training provider and we have delivered training across the largest banks and have trained over 25,000 professionals.
    • Knowledge – our 100+ strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
    • Reliability – if we promise it, we deliver it. We have delivered over 25,000 events both in person and online, using simultaneous translation to delegates from over 99 countries.
    • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 4.2/5 on service and 4.7/5 on Coursecheck
This course can be run as an In-house or Tailored Learning programme


  • Dennis Stickley


    Mr. Stickley is an international legal expert in petroleum law who is based in Scotland. Mr. Stickley received the degrees of Juris Doctor from the University of Wyoming and LLM-Energy Law from the University of Utah and has been listed in the Guide to the World’s Leading Energy and Natural Resources Lawyers. In over thirty years of practice, Mr. Stickley has been chief legal officer in petroleum companies, consultant to international development banks, aid programs and law professor. His private sector experience included positions as General Counsel of Petroleum Corporation of New Zealand and Chief Legal Officer for Sinclair Oil Corporation in the U.S. These positions involved negotiation of commercial and financial agreements, oversight of regulatory compliance and the supervision of major litigation. He has been a consultant to the Asian Development Bank, The World Bank, the European Investment Bank and the Trade, Oceans and Natural Resources Division of the Commonwealth Secretariat on petroleum sector policy, gas sales agreements, and project financing for oil and gas development. Mr. Stickley has been an adviser and trainer on negotiations for various petroleum companies including BP, BG Group, Gazprom, KazMunayGas, Perushaan Gas Negera, Pertamina, Petronas, Philippine National Oil Corporation, Total, Shell and Statoil. He was appointed by ECOWAS as the lead negotiator on behalf of four West African governments for the West African Gas Pipeline Project and has conducted training seminars on the development of oil and gas in several West African countries including Benin, Equatorial Guinea, Ghana, Nigeria, Togo, and Cameroon as well as the West African Power Pool. His academic credentials include appointment as Distinguished Visiting Professor for Oil & Gas Law at the University of Wyoming. He is currently Honourary Professor for International Petroleum Law at the University of Dundee Centre for Energy, Petroleum & Mineral Law and Policy. At CEPMLP he has been the Course Director and principal instructor for seminars on Petroleum Industry Negotiations, Petroleum Service Contracts, Gas Industry Contracts, and Downstream Petroleum Law. He is the course author of International Comparative Petroleum Law. His publications include A Framework for Negotiating and Documenting International Petroleum Transactions and A Framework for Negotiating and Managing Gas Industry Contracts. Mr. Stickley’s academic work has been published in the Land and Water Law Review, Tulsa Law Journal and Journal of Comparative and International Law.



The course will take place at a central London hotel. The map attached details some of our most frequently used venues.