Home page Media News BIRCH LEGAL's sanctions team assisted VimpelCom in recovering payments blocked by British banks

BIRCH LEGAL's sanctions team assisted VimpelCom in recovering payments blocked by British banks

British banks had frozen over EUR 7 m in funds intended for the client's foreign partners due to the involvement of a sanctioned Russian bank in the original payment route. The client sought advice from BIRCH LEGAL due to the difficulties encountered.

BIRCH LEGAL's lawyers advised the client on sanctions regulations, including the application of the general license of the British regulator OFSI which was valid until 14 December 2023. Thanks to the clarifications received, the client was able to unblock and return the funds to its accounts in full when interacting with the banks.

 The team led by counsel Alexander Gavrilov who worked on this project consisted of Galiya Balgabaeva, Viktor Mukhin, Alla Kipriyanova and Vladislav Berlina.

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