UK License Allows Wind-Down Transactions With Sanctioned Shipping Company

The U.K.'s Office of Financial Sanctions Implementation March 28 issued a general license allowing certain wind-down transactions and insurance-related transactions with certain vessels managed by sanctioned shipping company Active Denizcilik ve Gemi Isletmeciligi Anonim Sirketi. The license also authorizes certain transactions between Active Denizcilik and insurers that help the company's vessels reach their port of discharge or a safe port to discharge cargo that was onboard as of March 28. The license expires June 11.