UK OFSI Extends Russia-Belarus Brokerage Licence, Designates 10 Individuals
In-house counsel for entities with UK Russia and Belarus sanctions exposure must act because the extended general licence updates permissible activities with designated brokerage firms, and new individual designations require immediate updates to restricted party screening protocols.
On 13 July 2026, the UK Office of Financial Sanctions Implementation (OFSI) extended General Licence INT/2025/6641960, which authorizes specific activities related to non-designated third-party brokerage accounts held with designated brokerage firms under UK Russia and Belarus sanctions regulations. That same day, the UK Foreign, Commonwealth and Development Office designated 10 new individuals under the Russia (Sanctions) (EU Exit) Regulations 2019. In-house counsel should review the extended licence terms to confirm whether their organization’s brokerage-related activities fall under the authorized scope, and immediately add the 10 newly designated individuals to internal restricted party screening lists to mitigate compliance risk.