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Feb 24, 2022 · The sanctions, imposed in response to Russia’s invasion of Ukraine, restrict Sberbank’s access to US dollar transactions. The US also froze assets at four other Russian banks including its...
- 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.
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. The...
Mar 2, 2022 · Some of the sanctions will also affect Sberbank and Gazprombank. Put together, the Commission says the measures will target between 70% and 80% of the Russian banking system.
- Jorge Liboreiro
CAPTA and Rejection Sanctions on Sberbank OFAC imposed correspondent account and payable-through account (CAPTA) sanctions and rejection sanctions on Sberbank, the largest Russian financial institution by assets. These sanctions do not block Sberbank, but prohibit U.S. financial institutions from maintaining or opening accounts, as
Apr 6, 2022 · The US has imposed its most severe level of sanctions on Sberbank, Russia’s largest financial institution, and Alfa-Bank, the country’s biggest private bank, escalating its economic punishment...
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What is capta and rejection sanctions on Sberbank?
Feb 26, 2022 · The US Treasury Department said it was targeting the “core infrastructure” of Russia’s financial system, sanctioning two of its largest banks – state-backed Sberbank and VTB – as well as ...
