UK Updates VTB General License
The U.K. updated its General License pertaining to Russian banks to allow payments relating to insolvency proceedings with VTB's British subsidiary. The Office of Financial Sanctions Implementation said that under the license, anyone until April 3, 2023, "may make, receive…
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or process any payments, or take any other action, in connection with any Insolvency Proceedings relating to the UK Subsidiary, whether prior to or after the commencement of such proceedings, including, without limitation, an insolvency practitioner for the purposes of his or her functions under or in connection with Insolvency Proceedings."