UK Issues General License Permitting to Services to Vessels Under Russia Sanctions
Following the U.K.'s imposition of massive sanctions on Russia following its invasion of Ukraine, the U.K.'s Export Control Joint Unit published a General License allowing the provision of technical assistance, financial services and funds, and brokering services for certain vessels. The ECJU authorized these activities where a restricted vessel is moving from a third country to Russia or the U.K., or to a third country from Russia or transiting Russian waters.
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The provision of insurance services will be permitted only where the provider does not reinsure any of their obligations to issue the insurance services or reinsures any of their obligations to provide those insurance services and no reinsurance cover has been rendered unenforceable, the license said. Certain exceptions apply to the license, however, with the ECJU barring the provision of services for vessels if the provider has been told by a U.K. authority or is aware that the activities covered by the license will be issued contrary to export or import laws or regulations of the exporting or importing country.