OFSI issues General Licence INT/2025/5787748

Article summary

The Office of Financial Sanctions Implementation (OFSI) has issued General Licence INT/2025/5787748 under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019, SI 2019/855 and Regulation 32 of the Republic of Belarus (Sanctions) (EU Exit) Regulations 2019, SI 2019/600. This General Licence allows payments to be made to Arbitration Associations and Arbitrators to cover fees and expenses for their arbitration services. It also permits payments to be made to a designated person’s representative or legal representative to cover Arbitration Costs. General Licence INT/2022/1552576 relating to the London Court of International Arbitration (LCIA) Arbitration Costs was revoked following the issuance of the new Arbitration Costs General Licence.