UK Issues a General License for Amsterdam Trade Bank
The U.K. issued a General License May 12 allowing the Amsterdam Trade Bank, a subsidiary of the Russian Alfa-Bank, to make payments for its basic needs. ATB was listed under the U.K.'s Russia sanctions regime. The license, titled "Amsterdam Trade…
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Bank N.V -- winding down, basic needs and insolvency related payments," permits any individual to make, receive or process any payments in connection with any insolvency proceeding with ATB. The license also allows any individual to wind down any transactions with ATB or a subsidiary. It expires May 12, 2023.