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May 5, 2022 · The EU had previously spared Sberbank from what is seen as the harshest measure because it, along with Gazprombank, is one of the main channels for payments for Russian oil and gas, which EU...
- Exceptions
- Licensing For Financial Sanctions
- Licensing For Director Disqualification Sanctions
- Licensing For Trade Sanctions
- Overlap with Strategic Export Licensing
- Licensing For Transport Sanctions
- Immigration Sanctions
The Regulations set out exceptions to some of the sanctions prohibitions which apply within certain defined circumstances. An exception applies automatically, and does not require you to obtain a licence issued in accordance with the Regulations. The Regulations establish exceptions relating to financial sanctions including for the crediting of a f...
Where a person is designated for the purposes of the financial sanctions contained in the Regulations which include asset freeze measures and making available provisions (together the “Asset Freeze etc”), OFSI may grant a licence regarding the Asset Freeze etc measures e.g. if the designated person or representative (on their behalf) applies for a ...
The designated person, or their authorised representative, can make an application for a licence to the Insolvency Service. Should the Insolvency Service decide to grant a licence then the licence will specify the act/s it authorises. A licence may be subject to conditions. A licence may be varied or revoked, and any such changes will be communicat...
Licences may also be issued for certain trade activities that would otherwise be prohibited by the Regulations. The Department for Business and Trade (DBT) has overall responsibility for trade sanctions licensing. The Secretary of State for Business and Trade is ultimately responsible for decisions to grant or refuse a trade sanctions licence in an...
Military goods and military technology
Please note the export of and trade in military goods and military technology are also controlled under the Export Control Order 2008 and so you may also need a licence which is valid under that legislation. This means that all licence applications relating to military goods and military technology will also need to be considered against the Strategic Export Licensing Criteria. A licence under the Regulations is unlikely to be granted if a licence is refused for the same activity under the Ex...
Dual-use goods and technology
Please note that the export of and trade in dual-use goods and technology are also controlled under the Dual-Use Regulation. Authorisations under that Regulation are granted by the Secretary of State for Business and Trade under licensing powers in the Export Control Order 2008. This means that all licence applications relating to items which are controlled dual-use goods and technology will also need to be considered against the Strategic Export Licensing Criteria. A licence under the Regula...
Overlap between items falling under Schedule 2C (aviation and space goods and technology) which are also military goods and technology or dual-use goods and technology
Where an item falls within the definition of “aviation and space goods” or “aviation and space technology” list and also within the definitions of either military goods, military technology, dual-use goods or dual-use technology, it is subject to prohibitions under all relevant regulations. If you wish to rely on an exception, there must be a relevant exception available for all relevant prohibitions that it engages. Similarly, if you wish to apply for a licence, your activity must be compati...
Licences may also be issued for certain transport activities that would otherwise be prohibited by the Regulations. The Department for Transport (DfT) has overall responsibility for transport sanctions licensing. The Secretary of State for Transport is ultimately responsible for decisions to grant or refuse a transport sanctions licence in any indi...
If you are subject to immigration sanctions the Home Office may direct, on a case by case basis, that the sanction does not apply in particular circumstances, such as for travel to, or through, the UK for a UN sponsored meeting. You can check how to apply for a UK visa, and find further information about travelling to the UKon GOV.UK.
May 4, 2022 · Sberbank is among three Russian banks to be sanctioned as part of the European Union's sixth package of sanctions against Russia after it invaded Ukraine in February.
Jun 2, 2022 · The European Union’s latest package of Russia sanctions will knock three Russian banks, including Sberbank, the country’s largest, off the Swift global financial transactions network.
May 4, 2022 · Crucially, they say, Gazprombank — the country’s third-largest lender and a subsidiary of the state-owned energy company Gazprom — will be allowed to stay on Swift. The bank, which accounts for 7...
May 31, 2022 · European Union leaders have agreed to cut off Sberbank, Russia’s largest financial institution, from international payment system SWIFT. This measure will be included as part of the EU’s sixth ...
People also ask
Will Gazprombank stay on Swift?
Is Gazprombank under sanctions?
Will Sberbank & Gazprombank be affected by a cyber attack?
Could removing Gazprombank from Swift be a nuclear option?
Does Sberbank work in Russia?
Why did the EU spare Sberbank?
Mar 2, 2022 · T he U.S., Canada and Europe are tightening financial restrictions on Russia with a new ban that blocks seven Russian banks from using SWIFT, the global messaging system that enables bank...
