UK: NEW RUSSIA SANCTIONS GENERAL LICENCE

On 17 October, HM Treasury advised of a new General Licence which permits Designated Persons, companies controlled by DP or their legal representatives to make payments to the London Court of International Arbitration (LCIA) to cover their arbitration costs.  It also permits the LCIA to direct and receive such payments to use them to pay for arbitration costs and Relevant Institutions to process those payments.  This licence takes effect from 17 October.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1111563/17102022_INT-2022-1552576_LCIA_s_FEES_PUBLICATION_NOTICE__FINAL_VERSION_.pdf

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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 View all posts by raytodd2017