On Sep. 30, UK GVT issued a notice on Russia sanctions licensing.
UK GVT issued notice 2024/26 on Russia sanctions license for intra-corporate services.
Notice Summary
Decision to remove licensing consideration which relates to professional and business services from UK parent companies and UK subsidiaries to their Russian subsidiaries.
From Oct. 31, 2024, intra-corporate services will no longer be listed in the guidance as a licensing consideration that is likely to be consistent with aims of sanctions regime.
Effectiveness
Notice advises removal of intra-corporate licensing consideration from Oct. 31, 2024.
Applications submitted before Oct. 31, 2024 will not be affected by this notice.
