OFSI issues new General Licence
OFSI has issued General Licence INT/2022/2085212 under the Russia sanctions regulations allowing payments to sanctioned Russia banks for the purpose of making energy available for use in Mongolia.
Under General Licence INT/2022/2085212 a Person may continue to make payments to certain Sanctioned Banks and Subsidiaries for the purpose of making energy available for use in Mongolia,and a Person, Relevant Institution, Sanctioned Bank or Subsidiary can carry out any activity reasonably necessary to effect this.
This licence takes effect from 15 August 2022 and expires on 14 August 2023.
Any Persons intending to use the General Licence should consult the copy of the Licence and refer to OFSI’s General Guidance.