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April 21, 2022: New OFSI Russia General Licence for gas-related payments to Gazprombank

OFSI General Licence – Russia

OFSI has issued General Licence INT/2022/1630477 under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019 to allow payments to Gazprombank or a Subsidiary for the purpose of making Gas available in the European Union.

Under General Licence INT/2022/1630477 a Person may continue to make payments to Gazprombank or a Subsidiary under a contract entered into prior to the date of this licence for the purpose of making Gas available for use in the European Union and a Person, Relevant Institution, or Gazprombank, or a Subsidiary can carry out any activity reasonably necessary to effect this including the opening and closing of bank accounts.

A Person making payments under this licence must keep accurate, complete and readable records,on paper or electronically, of any activity purporting to have been permitted under this licence for a minimum of 6 years. 

This General Licence takes effect from 21 April 2022 and expires on 31 May 2022.

Note: this was originally issued, listing an expiration date of August 1st. OFSI then issued this correction later in the day.

Links:

General Licence INT/2022/1630477 – Publication Notice, General Licence

Categories: Licenses OFSI Updates Russia sanctions

eric9to5

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