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UK banks authorized to collect fees for frozen Russian accounts servicing

The license was issued on March 10 but came into force on August 22 and is not limited by a specific timeframe

LONDON, August 22. /TASS/. UK banks were allowed to collect fees and charges for servicing of Russian accounts frozen in accordance with anti-Russian sanctions, the UK Office of Financial Sanctions Implementation said in the general license posted on Monday.

"General License INT/2022/2104808 allows for the payments of bank fees and service charges. Under this license: a bank may take the payment of bank and service fees from accounts frozen under the Russia Regulations, arising from the routine holding or maintenance of those accounts. This includes taking payment for arrears of such fees. Payments to banks designated under the Russia Regulations are not permitted to take these payments," the General License reads.

"Persons incurring tax liabilities for making these payments can pay those tax liabilities" to the UK tax service, according to the license.

The license was issued on March 10 but came into force on August 22 and is not limited by a specific timeframe.