russia-sanctions
03 October 2024
UK government ending licensing for intra-corporate services to Russia
The UK government has announced changes to its Russia sanctions regime, related to licensing for intra-corporate services. It said, ‘The government has decided to remove the licensing consideration which relates to the provision of such services from UK parent companies and their UK subsidiaries to their Russian subsidiaries.’
This means UK companies will no longer be able to apply for licences to provide intra-corporate services to their Russian subsidiaries.
Effective 31 October 2024, the provision of intra-corporate services will no longer be listed in the Statutory Guidance as a licensing consideration that is likely to be consistent with the aims of the sanctions regime,’ said a notice to exporters (‘NTE’), 30 September, by the Export Control Joint Unit (‘ECJU’) and the Department for Business & Trade (‘DBT’).
It said the decision was made, ‘Following a review of the professional and business services sanctions in place under Regulation 54C of the Russia (Sanctions) (EU Exit) Regulations 2019 (“the Russia sanctions Regulations”).’
