'This is becoming an increasingly common issue in the Commercial Court', the U.K. High Court judge said.
November 10, 2022 at 07:04 AM
3 minute read
Reporter
A U.K. High Court judge has adjourned a case involving the commodities-trading arm of Russia’s VTB Group, after an eight-month delay in the sanctioned group’s attempts to obtain a government licence.
In a judgement handed down on November 4, Justice David Foxton noted that the claimant VTB Commodities Trading DAC “is a sanctioned entity and no licence has as yet been granted by the Office of Financial Sanctions Implementation (OFSI)”.
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