On 5 April, HM Treasury advised that one of its General Licences was amended on 1 April to allow any payments in connection with the Insolvency Proceedings of the UK subsidiary of VTB.  On 4 April, it said, another General Licence was amended to permit persons or a relevant institution to process payments or transactions related to the sale and transfer of shares in the GEFCO joint venture by the designated party.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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