OFSI General Licence – INT/2022/1277778

OFSI has amended General Licence INT/2022/1277778.

General Licence INT/2022/1277778 relates to correspondent banking relationships and processing Sterling payments with Sberbank and was issued on 1 March 2022. 

The Licence was amended to add paragraph 4.1. 

This Licence took effect from 1 March 2022 and expires on 31 March 2022.

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

4.1 A UK credit or financial institution may continue a correspondent banking relationship with:

1. Sberbank; or
2. A non-UK credit or financial institution which is owned or controlled directly or indirectly (within the meaning of regulation 7 of the Russia Regulations) by Sberbank; or
3. A UK credit or financial institution, which is owned or controlled directly or indirectly (within the meaning of regulation 7 of the Russia Regulations) by Sberbank.