WebOFSI has the power to issue General Licences under regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2024 (“the Russia Regulations”). On 4 December 2024, OFSI issued 4 General Licences to implement the Oil Price Cap which came into force on 5 December 2024. This measure will deprive Russia of access to excess oil revenues by WebApr 14, 2024 · Licences are required to export controlled goods, software, and technology from the UK (including military and dual-use items) to another country. ... (OFSI) and the DIT. General exemptions.

OFSI General Licence INT/2024/2252300 - GOV.UK

WebDec 1, 2024 · General Licences may be implemented by OFSI to respond to unforeseeable circumstances, technical implementation issues and/or where HM Treasury decides that the purpose of the regime would be better served through the issuance of a General Licence. In most cases active General Licences and accompanying guidance will be made … WebApr 12, 2024 · OFSI last week updated its guidance on the UK’s Russian oil maritime services ban and oil price cap to: ... service providers who are not clear which attestation tier corresponds to a transaction to first consult the relevant General Licence, and if in doubt contact OFSI at [email protected]; humus alimentare

Financial Restructuring Alert

WebWhat is a General licence? Under the Sanctions Act, OFSI may issue general licences which allow multiple parties to undertake specified activities which would otherwise be … WebOct 17, 2024 · General Licenses. On August 5, 2024, the Office of Financial Sanctions Implementation (“OFSI”) issued a general license that permits companies/persons to use the retail banking services of a designated Credit or Financial Institution for the purpose of winding down business operations in Russia. The license is subject to certain reporting ... WebOn 01 April 2024, OFSI amended General Licence INT/2024/1280876 to allow any payments in connection with the Insolvency Proceedings of VTB Capital plc and its UK … humus bauhaus