By Maya Lester KC & Michael O’Kane

OFAC issues & updates Russia-related GLs

OFAC issued 2 Russia-related General Licences (GLs) on Friday (19 August 2022) (Notice): GL 50, “Authorising the Closing of Individual Accounts at Financial Institutions Blocked Pursuant to Executive Order 14024”, which authorises all transactions ordinarily incident and necessary to: the closing of an account of a non-blocked person (“account holder”), wherever located, held at a financial institution blocked pursuant to …

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About Michael O'Kane

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Michael is Senior Partner at Peters & Peters Solicitors LLP. He has acted in many of the most high profile and sensitive business crime cases of the last 25 years, at Peters &...

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