UK issues Zarubezhneft JSC wind-down general licence

8 October 2026

The UK has issued General Licence INT/2026/11080040 under the Russia (Sanctions) (EU Exit) Regulations 2019 – Publication Notice.

The GL allows people and entities to wind down or divest from any transactions they are party to that involve sanctioned entity Zarubezhneft JSC or any entity it owns or controls. Certain UK financial institutions and Zarubezhneft JSC may also carry out activity reasonably necessary to give effect to the wind-down, which would otherwise breach the asset-freeze prohibitions of the Regulations.

GL users are subject to a 6-year record-keeping requirement. The GL comes into force on 8 October 2026 and expires on 21 November 2026. See our UK licensing page for all UK licences.