OFSI General Licences

Lukoil Bulgaria Entities General Licence Continuation of Business

HM Treasury has amended the General Licence concerning the continuation of business for Lukoil Bulgaria entities. This amendment extends the licence, allowing specified business operations to continue under certain conditions until February 13, 2026.

UK General Licence for Lukoil International Business Continuation

The UK Treasury has issued a general licence allowing certain business operations involving Lukoil International and its subsidiaries to continue, despite existing sanctions. This licence is effective from November 27, 2025, and expires on February 26, 2026.

Myanmar Humanitarian Activity General Licence

The UK has issued a General Licence (INT/2025/8257372) under the Myanmar (Sanctions) Regulations 2021 and the Global Human Rights Regulations 2020. This licence exempts certain 'Relevant Persons' from prohibitions when carrying out activities necessary for humanitarian assistance and supporting basic human needs in Myanmar.

PJSC Transneft Wind Down General Licence

HM Treasury has issued a General Licence for the wind-down of transactions involving PJSC Transneft, effective February 24, 2026, and expiring April 9, 2026. This licence exempts certain acts from Russia sanctions prohibitions to facilitate divestment and transaction closure.

Maritime Mutual Re-Insurance Wind Down General Licence

The UK Treasury has issued a General Licence allowing UK Insurers and Insurance Brokers to process funds related to Maritime Mutual Re-Insurance wind-down activities. This licence is granted under the Russia (Sanctions) (EU Exit) Regulations 2019 and permits transactions for contracts agreed prior to February 24, 2026.