OFSI issues new license under 19 Autonomous Sanctions Regulations
On November 17, 2022, the UK Office of Financial Sanctions Implementation of HM Treasury granted a new general license under nineteen Autonomous Sanctions Regulations. Pursuant to GL INT/2022/2300292, persons designated under UK sanctions regimes (but not under United Nations sanctions programs) may make payments for gas and electricity supplies for properties they own or rent in the UK. Concomitantly, UK energy companies may receive such payments, UK financial institutions may process them, and UK utility companies may make return payments into frozen bank accounts when contractual or regulatory obligations require. Designated persons making payments permitted by GL INT/2022/2300292 must report monthly to HM Treasury, and energy companies must report within 14 days of making a return payment under the license. GL INT/2022/2300292 expires on April 16, 2023.