The United Kingdom has granted a license for continued payments to Russia’s Gazprombank for more than a month, despite sanctions imposed on the firm and dozens of other Russian financial institutions last month.
London’s Office of Financial Sanctions Implementation (OFSI) issued the sanctions waiver on Thursday for “the purpose of making gas available for use in the European Union,” noting that the license expires on May 31.
It applies to contracts agreed prior to Thursday with Gazprombank and its subsidiaries, and it allows for “the opening and closing of bank accounts” so long as it helps to secure the flow of gas into the EU.