August 23, 2023

UK amends two Russia-related general licenses

On August 23, 2023, the UK Office of Financial Sanctions Implementation amended General License INT/2022/1875276 and General License INT/2023/3263556 under regulation 64 of the Russia (Sanctions) (EU Exit) Regulation 2019.  General License INT/2022/1875276 was initially issued to temporarily authorize, until May 30, 2024, certain payments and activities related to the provision of Civilian Telecommunications Services and News Media Services to Designated Persons (“DP”) that would otherwise be prohibited under Regulations 11 to 17A of the Russia Regulations.  The general license was amended in order to clarify that PJSC MegaFon is both a Civilian Telecommunication DP and a News Media Services DP under the license.

OFSI also amended General License INT/2023/3263556, which was recently issued to temporarily authorize payments and other activities related to insolvency proceedings associated with two specific Irish GTLC Companies – GTLK Europe Designated Activity Company and GTLK Europe Capital Designated Activity Company – until July 31, 2025.  OFSI amended Annex 1 of this general license, which is a list of non-exhaustive subsidiaries covered by GL INT/2023/3263556, in order to make clear that STLC Europe Nine Leasing Limited is covered by the license.

General License INT/2022/1875276 | General License INT/2022/1875276 – Publication Notice | General License INT/2023/3263556 | General License INT/2023/3263556 – Publication Notice