News

The head of the U.K. Office of Financial Sanctions Implementation, or OFSI, said Tuesday that his agency may issue a general license that would allow blacklisted Russian oligarchs, businesses and domestic companies with ties to Russia to pay their attorneys in Britain. Amid the implementation and subsequent expansion of unprecedented Western financial and commercial restrictions against Russia that began in late February, OFSI has received a deluge of applications from blacklisted Russian parties for licenses to satisfy contractual obligations and cover legal expenses, rent, their children's tuition and other fees. OFSI Director Giles Thomson told attendees of an online webinar...