UK Issues New Sanctions Licenses, Revises Others
The U.K.'s Office of Financial Sanctions Implementation issued a new general license last week that allows the government's revenue and customs agency to make certain payments to the frozen bank account of a person sanctioned under U.K. authorities. The revenue agency also may "set-off" the "amount of any Permitted Payment (as a credit) against any liability of the same UK [sanctioned person] to pay an amount to that Revenue Authority (as a debit)." The license took effect Sept. 26.
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OFSI also revised existing general licenses that authorize certain gas and electric payments to utility companies; water and sewage payments to water companies; and payments related to bank fees. In addition, the agency issued new FAQs 165-167 to "address changes" in those general licenses.