OFSI General Licences – Russia
OFSI has issued 3 General Licences INT/2022/1277777, INT/20221277778, and INT/2022/1277877; under The Russia (Sanctions) (EU Exit) Regulations 2019.
The new General Licences relate to:
- A 7 day wind down period in respect of sovereign debt, loans and money market instruments measures (INT/2022/1277777);
- A 30 day wind down period in respect of the clearing and correspondent banking prohibitions (INT/2022/1277778); and
- A wind down period until 24 June (additional days to INT/2022/1277778) in respect of the clearing and correspondent banking prohibition where the payments relate to Relevant Energy Products (INT/2022/1277877).
This licences take effect from 01 March 2022 and have individual expiry dates
Further details in relation to General Licence INT/2022/1277777, INT/2022/1277778, INT/2022/1277877 as well as copies of the General Licences, can be found at the link below.
Any persons intending to use the General Licences should consult the copy of the Licence and refer to OFSI’s General Guidance.
Note: OFSI redesigned the web page that lists the General Licences – you used to have to scroll the list of licenses to actually see the link to the licenses, but the scroll bar wasn’t visible until you started scrolling (which required you to know that the list scrolled horizontally). Little victories…
- INT/2022/1277777 – Publication Notice, General Licence
- INT/2022/1277778 – Publication Notice, General Licence
- INT/2022/1277877 – Publication Notice, General Licence