UK Issues Russian Sanctions Guidance in Case of No-Deal Brexit
The United Kingdom’s Office of Financial Sanctions Implementation published a guidance on restrictions in the Russia sanctions regime in the case of a no-deal Brexit, the OFSI said in a June 6 press release. The four-page guidance would only apply…
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
if the U.K. leaves the European Union without a deal. The guidance “expands specifically on financial and investment restrictions,” OFSI said, including assets freezes, preventing access to payment processing and requiring license exceptions for continuing to operate under certain restrictions related to Crimea. The guidance also contains a list of Russian banks and entities in which loans, “credit arrangements,” investments and other financial services would be prohibited.