UK Amends General License to Include Payments Made by Sberbank CIB (UK)
The U.K. amended its general license permitting certain activity with sanctioned Russian banks to include Sberbank CIB (UK), the British subsidiary of Sberbank, it said April 22. The license allows Sberbank CIB (UK) or any entity owned or controlled by…
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the bank and incorporated in the U.K. to pay expenses for their "base needs," routine holding and maintenance expenses, and reasonable professional fees for the provision of legal services. The amended license took effect March 1 and will expire April 3, 2023.