UK GVT Sanctions Main Russia Airlines


On May 19, UK GVT announced restrictions on major Russian airlines.


  • UK GVT announced it is introducing new sanctions against the Russian airline sector.
  • Landing Slots
  • State-owned Aeroflot, Russia’s largest airline, Ural Airlines, and Rossiya Airlines will be unable to sell unused, lucrative landing slots at UK airports, worth around £50mn.
  • Follows ban on Russian aircraft from entering airspace in Mar. 2022, see #131329.
  • New sanctions ensure airlines can’t cash in their lucrative landing slots at UK airports.
  • UK OFSI issued a UK Treasury notice adding the three airlines to the consolidated list.
  • Also announced removal of erroneous information in following entries on non-HTML / PDF versions of consolidated list: Garantex Europe OU (15329); Kamaz (15332).
  • May 23, 2022 General License
  • On May 23, 2022, UK Treasury issued OFSI general license INT/2022/1839676.
  • Under this licence, UK persons may purchase tickets from PJSC Aeroflot, JSC Rossiya Airlines, JSC Ural Airlines, Russian Railways (collectively known as DP) or subsidiary for flights or rail journeys originating in or within Russia, until expiry on May 23, 2023.
  • A UK person, relevant institution (defined in the license) or DP may carry out activity reasonably necessary to effect the purchase of tickets for flights or rail journeys.
  • Feb. 14, 2023 License Amended
  • On Feb. 14, 2023, UK OFSI published amended general license INT/2022/1839676.
  • License amended so UK persons may purchase tickets from South Caucasus Railway CJSC for passenger rail journeys between Armenia and Georgia, within either country.
  • The expiry date of the license was also amended, it now expires on May 23, 2024.
  • Nov. 2023 Amendment
  • On Nov. 10, 2023, UK OFSI published amended general license INT/2022/1839676.
  • Paragraph 4.1 amended and new paragraph 4.2 inserted which states that a UK person may purchase tickets from South Caucasus Railway CJSC for passenger rail journeys between Armenia and Georgia and within either of those two countries.
  • The license takes effect from May 23, 2022 and expires on May 23, 2024.
  • Dec. 2023 Amendment
  • On Dec. 15, 2023, UK OFSI amended general license INT/2022/1839676 to permit activity that would otherwise breach the prohibitions in reg 17A of Russia regs.

Regulators UK GVT; UK OFSI; UK Treasury
Entity Types B/D; Bank; BS; Corp; Depo; Ins; Inv Co; MSB; Pension
Reference PR, Nt, 12/15/2023; PR, Nt, 11/10/2023; PR, Nt, 2/14/2023; PR, GL, 5/23/2022; PR, Ntc, 5/19/2022; StIn 2019/855; StIn 2019/600; SAMLA 2018
Functions AML; Anti-Bribery; Compliance; Financial; Legal; Operations; Reporting; Risk; Sanctions; Settlement; Technology; Treasury
Countries Russia; United Kingdom; Ukraine; Cross-Border
Category
State
Products Banking; Clearing; Commodities; Corporate; Custody; Deposits; Fund Mgt; Insurance; Loan; Payments; Pensions; Securities
Regions EMEA
Rule Type Final
Rule Date 5/19/2022
Effective Date 5/23/2024
Rule Id 138322
Linked to N/A
Reg. Last Update 12/15/2023
Report Section AML & Enforcement

Last substantive update on 12/20/2023