OFSI issues General Licence INT/2026/11080040, permitting the wind-down of certain transactions involving a designated person under the UK Russia sanctions regime

The licence permits parties to wind down or divest from transactions involving Zarubezhneft JSC and its subsidiaries, including closing out positions.
It also allows activities reasonably necessary to complete the wind-down, subject to the licence’s conditions. Affected parties must maintain complete records of permitted activities for at least six years. The licence expires at 23:59 on 21 November 2026…