UK Publishes General License Permitting Limited Business With GEFCO
The U.K. issued a General License, titled "Continuation of Business and Basic Needs of GEFCO UK Subsidiaries," which permits continuing business operations involving GEFCO -- a joint venture owned by Russian Railways and Stellantis -- or its subsidiaries, until May…
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23. The subsidiaries include GEFCO UK Ltd., GEFCO Forwarding UK, Auto XP Ltd. or XP Tech Ltd. Permitted activity under the license includes payments to or from the joint venture under contract or payments to or from a third parties needed to continue any obligations or contracts. The license also authorizes a subsidiary to make payments for reasonable fees stemming from routine holding and maintenance of its frozen funds.