UK Adds Russia Sanctions Licensing Grounds for Purpose of Divesting From Russia

The U.K. updated its Russia sanctions guidance to add additional licensing grounds with the aim of divesting from Russia, the Office of Financial Sanctions Implementation said. The guidance says that, for divestment purposes, a license may be granted to provide oil refining goods, energy-related goods, luxury goods, jet fuel and "Russia's vulnerable goods" in Russia or to someone linked with Russia. The licensing grounds also cover the provision of technical assistance, brokering services, financial services or funds related to the oil refining goods, energy-related goods, jet fuel and Russia's vulnerable goods.