The Office of Financial Sanctions Implementation of the HM Treasury has extended the application date of General License (INT/2023/3566356) under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019 (SI 2019/855) and under Regulation 32 of the Republic of Belarus (Sanctions) (EU Exit) Regulations 2019 (SI 2019/600). The license permits financial institutions and payment service providers to make payments that would otherwise be prohibited by these regulations under regulations 11 through 15.
Specifically, the license permits financial institutions and payment service providers to return payments that meet certain criteria, such as being processed by institutions that are not designated persons (DPs) and involving accounts held by individuals or entities that are not DPs, to institutions that originally sent the payments.
The now issued extension applies up to December 14, 2023.
Other Features
asset freezing
banks
payment services
sanctions
Ukrainian conflict
Date Published: 2023-11-24
Date Taking Effect: 2023-09-29
Regulatory Framework: UK Sanctions
Regulatory Type: procedure
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