UK Issues Russia-Related General License for Payment to Energy Companies
The U.K.'s Office of Financial Sanctions Implementation on Nov. 17 issued a new general license that authorizes certain payments to energy companies for gas or electricity. The payments can be made to Office of Gas and Electricity Markets (OFGEM)-registered energy…
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companies from a frozen U.K. bank account via transfer or direct debit. The OFGEM-registered companies can receive the payments and make return payments to frozen bank accounts, the license said. Designated parties can also receive return payments from energy companies into a frozen U.K. bank account. The license permits this activity through April 16, 2023.