| Link(s): | Various – see below |
Context
A number of Government web pages have been updated with guidance in relation to the developing sanctions situation in Russia. In an effort to give firms information in relation to the sources of such information. Below, we have set out a number of links that might be useful, in limited circumstances for the insurance distribution sector. A number of general licences have been granted by the Treasury, one of which (as an example) will allow one of the Russian banks on the sanctions list to continue to pay, for a period, its insurance premiums.
Key points to note
The links are as follows:
- Financial sanctions, Russia – GOV.UK (www.gov.uk)
- OFSI General Licences – GOV.UK (www.gov.uk)
- Licences that allow activity prohibited by financial sanctions – GOV.UK (www.gov.uk)
- Financial sanctions: guidance – GOV.UK (www.gov.uk)
- Russia_guidance_04.03.22_.pdf (publishing.service.gov.uk)
- The UK Sanctions List – GOV.UK (www.gov.uk)
- Russia: What has changed and what do I need to do? – OFSI (blog.gov.uk)
Next actions
None – for information and awareness, but we recommend that firms ensure that they are familiar with these sources of information.