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OFSI updates its VTB-related Russia General License

OFSI General Licence – Russia

OFSI has amended General Licence INT/2022/1272278.

General Licence INT/2022/1272278 relates to the wind down of positions with VTB Bank and was issued on 25 February 2022. 

The licence was amended to update references to UK legislation and expand the definition of a subsidiary. 

This licence took effect from 25 February 2022 and expires on 27 March 2022.

Further details in relation to General Licence INT/2022/1272278 as well as copies of the General Licences, can be found at the link below.

Any persons intending to use the General Licence should consult the copy of the Licence and refer to OFSI’s General Guidance.

Please also note that General Licence INT/2022/1277777 which allows for a 7-day wind down period in respect of sovereign debt, loans and money market instruments expires tomorrow at 23:59 on 8 March 2022.

Categories: Licenses OFSI Updates Russia sanctions


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