Britain Allows Gas Payments to Gazprombank until May 31

The United Kingdom (UK) has given a payment license to Russia’s Gazprombank and its subsidiaries till the end of May.

UK’s Office of Financial Sanctions Implementation (OFSI) under the HM Treasury released a copy of the license on their website issued on Thursday, April 21.

According to the document published online, the license allows an individual or corporation to continue payments under contracts that began before April 21, 2022 and allows actions such as opening and shutting bank accounts in order to make such payments.

Gazprombank, one of the key payment routes for Russian oil and gas, is one of the Russian organizations sanctioned by the United Kingdom in response to the Kremlin’s and its backers’ actions in Ukraine.

The license given to Gazprombank is set to expire on May 31, 2022.

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