UK Issues Charities, Telecoms General Licenses
The U.K. issued two General Licenses under its Russia sanctions regime, permitting certain action for charities and telecommunications services. Under the "Russia Designated Persons -- Charities and Interim Managers and trustees" license, the Office of Financial Sanctions Implementation permits an interim manager or trustee of a charity linked to a listed individual or entity to make payments to meet the charity's basic needs until May 30, 2023.
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The charity license also permits interim managers and trustees to make payments for reasonable fees or service charges stemming from the routine holding and maintenance of the charity's frozen funds, make payments of reasonable professional fees associated with the provision of those services, disperse the charitable funds, accept funds into the charity and make payments in connection with the winding up of a charity.
The telecommunications license, titled “Continuation of Business and Basic Needs for Telecommunications Services and News Media Services,” authorizes transactions related to the continuation of business operations involving ZAO TransTeleCom and news media services until May 30, 2024.