Thursday, December 31, 2020

Financial sanctions update: OFSI General Licence

Details of General Licence issued by OFSI

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Office of Financial Sanctions Implementation

OFSI issues General Licence 

On 1 January 2021, OFSI issued General Licence INT/2020/059 under Regulation 64 of The Russia (Sanctions) (EU Exit) Regulations 2019 ("The Russia Regulations").

This General Licence permits persons to make payments to the State Unitary Enterprise of the Crimean Republic 'Crimean Sea Ports' for services provided at the ports of Kerch Fishery Port, Yalta Commercial Port and Evpatoria Commercial Port, and for services provided by Gosgidrografiya and by Port-Terminal branches of the Crimean Sea Ports, as well as permitting persons to be reimbursed out of non-frozen funds for such payments.

Further details in relation to General Licence INT/2020/059, including requirements regarding pre-payment and reimbursement notification, reporting, and record-keeping, as well as a copy of General Licence INT/2020/059 can be found at the link below.

Any persons intending to use General Licence INT/2020/059 should consult the copy of the Licence and refer to OFSI's General Guidance.

To see further details

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