OFSI issued a general license for the provision of legal services by UK solicitors to Russian and Belarusian persons
December 27, 2022
On 28 October 2022, OFSI issued General Licence No. INT/2022/2252300 permitting U.K. law firms and counsel who have provided legal advice to persons designated under Russia or Belarus sanctions regimes to receive payments subject to limitations of the licence.
The general license is valid until 28 April 2023 and distinguishes between “pre-designation” and “post-designation” work. It also establishes fee rates caps for each phase of work of £500,000 (including VAT) for the duration of the license. The total fee for services, including overheads, must not exceed £1 million and the hourly rate for services rendered should be limited to £1,500.