UK: UPDATED RUSSIAN SANCTIONS GUIDANCE AND NEW GENERAL LICENCE

On 19 July, HM Treasury advised that OFSI has updated its Russia guidance to coincide with new regulations coming into force.  There is a new section on investments, and the FAQ section is updated to reflect the Russia financial sanctions that have come into force since the Russian invasion of Ukraine.

The new General Licence on investments in relation to Russia allows for a 7-day wind-down period in respect of the outward investment ban outlined in the new regulations, and it takes effect from 19 July and expires on 26 July.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1092033/OFSI_Russia_guidance_July_2022.pdf

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1092029/Outward_Investment_Wind_Down_GL_.pdf

https://www.legislation.gov.uk/uksi/2022/801/contents/made

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