UK sanction loophole of 30 day 'wind down period'
Note: Another DUer posted about this earlier today, but dont think it got enough notice. Thank you to that poster. I will try and find their post and the edit this post
UPDATE: I couldnt figure out how to search DU to try and find the original post on this topic.
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Prime Minister Boris Johnson announced last Thursday that the state-owned VTB Bank, which is the second-largest Russian bank and its largest investment bank, was the subject of a full and immediate asset freeze in the UK as part of the Governments attempts to help derail Vladimir Putins invasion of Ukraine by targeting key finance houses.
But the following day the Treasury unit in charge of enforcing the UKs sanctions quietly issued a 30-day licence granting permission for any individual or entity to wind down any transactions with VTB until 27 March.
https://inews.co.uk/news/government-accused-of-absurd-sanctions-loophole-after-giving-russian-bank-customers-30-days-to-wind-down-assets-1490017
Karadeniz
(22,572 posts)MLAA
(17,327 posts)Boris = Trump?
Karadeniz
(22,572 posts)mia
(8,362 posts)Thank you for finding more information about this topic.