OFSI issues General Licence – Russia
OFSI has issued General Licence – INT/2022/1495176 under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019.
General Licence INT/2022/1495176 relates to the following entities:
- Central Bank of the Russian Federation (CBR)
- National Wealth Fund of the Russian Federation (NWF)
- Ministry of Finance of the Russian Federation (MF)
Under General Licence INT/2022/1495176 a Person may provide financial services for the purposes of the receipt and onward transfer of non-rouble denominated interest/coupon or maturity/principal payments from the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, or the Ministry of Finance of the Russian Federation (or those persons set out in regulation 18A (2) (d) – (e) of the Russia Regulations) in connection with debt issued by them before 1 March 2022. A Person or Relevant Institution can carry out any activity reasonably necessary to effect this.
General Licence INT/2022/1495176 takes effect from 1 April 2022 and expires on 30 June 2022.