+7 495 139 4000
News and publications
New license for the Provision of Legal Services in the UK
On October 28, the UK Office of Financial Sanctions Implementation (OFSI) issued a new general license for the provision of legal services to designated persons of the Russian Federation and the Republic of Belarus.

The new license was issued due to the expiration of the previous license, but certain modifications were added:

  • The threshold limiting the amount payable for legal fees has been increased from £500,000 to £2 million;

  • The concept of the “law firm” has been expanded to include, among others, employees providing legal services to designated persons;

  • the threshold for the amount of expenses associated with the provision of legal services under the license has been increased to £200,000 or 10% of the amount payable for legal fees, whichever is lower;

  • it is now allowed to make payments to bank accounts outside the UK, specifically, to separate accounts of branches of the UK law firms;

  • the reporting period for sending lawyers’ reports to OFSI has been increased from 7 to 14 days after receiving payment.

The license is in effect until April 28, 2025.

To reflect these changes, OFSI has also updated Frequently Asked Questions (FAQs) on financial sanctions 49-51, 55, 61-66, 72-73, 76, and 84. The FAQs further clarify, among other things, that the fee caps apply to all in-house lawyers employed by designated companies as if they were, together, a law firm. The caps also apply to directly instructed counsel (FAQ 62).

#sanctions
Read also
09/5/2025
International Day of Charity
#pro_bono
Today, the whole world celebrates International Day of Charity, and it’s a wonderful occasion to remember how much we can achieve together! At KKMP, we believe that good deeds are what make the world brighter, and we strive to contribute every day.
09/4/2025
Preferential Purchase of an LLC Share: A Shift to Flexible Rules
#news
Since September 1st, LLC participants have significantly more freedom in regulating the preemptive right to purchase a share, up to and including its complete cancellation. A material on this change in legislation has been published on the analytical portal Pravo.ru.
09/4/2025
August International Digest: Easing of Asset Unblocking and a Ban on Enforcement of Judgments
#news
In August, several countries expanded their sanction lists to include Russian individuals and companies, and the US applied a new mechanism of secondary sanctions for the first time. Simultaneously, opportunities are emerging for the exchange of frozen assets. Cyprus has begun issuing the first licenses for asset withdrawal, and in Russia, the Central Bank has allowed foreigners to use funds in Type "C" accounts.