UK Updates Sanctions License Involving Water Utility Payments
The U.K. on Oct. 1 updated a sanctions license that authorizes sanctioned parties to make utility payments for water or sewerage services to U.K. properties. The U.K. updated the license's definition of "designated parties" and extended the "validity" of the license to make it "indefinite."
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
It also updated how the license applies to return payments. Previously, the license said water companies can make return payments to frozen U.K. bank accounts "due as a result of overpayment." The Office of Foreign Sanctions Implementation deleted the phrase "due as a result of overpayment" from the license.