UK Issues General License Under Russia Sanctions Regime Permitting Agricultural Commodities Exports

The U.K. issued a general license under its Russia sanctions regime pertaining to "transactions related to agricultural commodities including the provision of insurance and other services." The license permits agricultural commodities exporters or Department for International Trade license holders to receive funds from listed individuals and entities in connection with the export, sale, production and transport of agricultural commodities. These exporters and license holders can also transfer funds to relevant institutions in connection with the export of these goods, to U.K. corporates, to designated parties and to any other individual in connection with the export of agricultural commodities. The license was issued indefinitely, though the Treasury can revoke it at any time.