OFSI General Licence for PJSC Transneft Wind Down

OFSI All Publications

Published February 24th, 2026

Detected March 6th, 2026

Summary

The Office of Financial Sanctions Implementation (OFSI) has issued General Licence INT/2026/8889196, allowing persons to wind down transactions involving PJSC Transneft. This guidance is issued under The Russia (Sanctions) (EU Exit) Regulations 2019.

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What changed

OFSI has issued General Licence INT/2026/8889196, permitting individuals and entities to wind down any existing transactions with PJSC Transneft. This licence is issued under regulation 64 of The Russia (Sanctions) (EU Exit) Regulations 2019, providing a specific legal basis for these wind-down activities.

Regulated entities involved in transactions with PJSC Transneft must review the terms of this general licence to ensure compliance with its provisions. The licence facilitates an orderly cessation of business relationships, and adherence to its conditions is mandatory. No specific compliance deadline is mentioned, but entities should act promptly to cease new transactions and wind down existing ones in accordance with the licence.

What to do next

Review General Licence INT/2026/8889196 for specific wind-down conditions.
Cease new transactions with PJSC Transneft not covered by the licence.
Wind down existing transactions in accordance with the licence terms.

Source document (simplified)

Guidance

OFSI General Licence INT/2026/8889196

Details for OFSI General Licence INT/2026/8889196, PJSC Transneft Wind Down General Licence

From: Office of Financial Sanctions Implementation Published 24 February 2026 Get emails about this page

Documents

OFSI General Licence INT/2026/8889196

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OFSI General Licence INT/2026/8889196 Publication notice

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Details

OFSI General Licence INT/2026/8889196
OFSI General Licence INT/2026/8889196 Publication notice On 24 February 2026, OFSI issued General Licence INT/2026/8889196 under regulation 64 of The Russia (Sanctions) (EU Exit) Regulations 2019 (“the Russia Regulations”) which allows for Persons to wind down from any transactions involving the DP to which that Person is a party.