UK: BELARUS SANCTIONS – 2 NEW GENERAL LICENCES

On 5 July, HM Treasury announced 2 new General Licences.  One allows a period of until 04 August for a Person to provide financial services for the purpose of winding down any derivatives, repurchase, and reverse repurchase transactions entered into prior to 05 July 2022 involving the National Bank of Belarus (NBB); the Ministry of Finance of Belarus (MF); and other persons set out in regulation 15CA c to d of the Belarus Regulations.  The second licence allows for a 7-day wind down period in respect of, category C loans (as defined in the Regulations) as well as transferable securities and money market instruments (also defined in the Regulations).

https://www.gov.uk/government/collections/ofsi-general-licences

Any modest contributions for my time and ongoing expenses are welcomed!  At Buy me a Coffee one-off contributions start as low as $3, at

https://www.buymeacoffee.com/KoIvM842y

NOTE THAT THE ABOVE LINK IS NOW CORRECTED AND WORKS!

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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