UK amends sanctions guidance on Russian food and fertiliser exports
The Office of Financial Sanctions Implementation says Russia ships and food and fertiliser cargoes are allowed for food security purposes
The latest pronouncement clarifies that London insurers and banks can now provide insurance and trade finance under licence. However, the differences between European, US and UK sanctions and the lack of clarity about what to do if there was a US-designated entity somewhere in the chain will almost certainly curb any appetite for business
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