HM Treasury

Issued under Regulation 64 of the Russia Sanctions Regulations 2019, the General Licence permits individuals and relevant UK financial institutions to continue business operations, process payments and exchange economic resources with designated Lukoil Bulgaria corporate entities.

Under the regulatory framework, entities engaging in authorised transactions under the licence must submit a mandatory written notice and contact details to HM Treasury within 14 days of commencing covered activity.

Sticking with the UK, it's published updates covering designations under both the Russia and counter-terrorism regulatory regimes.

Under the Russia sanctions, it has designated or varied the designation of Shingiz Aliyev, an executive associated with Russian energy sector firms Litasko S.A. and Litasko Middle East D.M.C.C., confirming that he remains subject to asset-freeze travel ban, director disqualification and trust service sanction.

The measures highlight the challenge facing the government, protecting households from higher energy costs while keeping public finances sustainable.

For further information, see HM Treasury, the Office for Budget Responsibility, the House of Commons Library, and The Guardian.

Scotland

and the United Kingdom have opened fresh discussions on transferring political powers, following talks between First Minister John Swinney and Prime Minister Andy Burnham in Glasgow.

That rested on practice and courtesy, not on a law.

On Wednesday, the Treasury proposed to end it.

Today, Britain's new tax status for sovereign investors, a fight over Norway's ethics watchdog, and Japan's central bank declaring its inflation goal in reach.

On Budget Day, the Treasury published a consultation with a dry title, Modernizing Taxation of Foreign Sovereign Investments.

Here's what it proposes.

From 1 January 2029, foreign states, sovereign wealth funds, and state pension funds would need a new sovereign tax status, granted by the tax authority.

The last big low-rate anchor in the world is lifting.

In Washington, the Federal Reserve held at 3.75% to 4%, but two policymakers voted for a hike.

So set out the plan.

And I think a credible plan that people can get behind and can advocate to the UK Treasury for would be a massive help because the Treasury have a huge responsibility here as well, but they need something to invest in and buy into and they need not the sense of, that this is just a constant cycle of chaos and deflecting responsibility.

Appreciate you coming on this morning, Clare Hannan.

Thank you very much, Anne-Marie.

And put it in writing.

On October 28, 2026, HM Treasury published the Data Center Covenant as a policy paper, according to Pinson Mason's.

Chancellor John Healy announced it in his budget the same day.

The premise is a trade.

Even now, if we should be sure which of them has taken it, it is just possible that it has not yet passed out of his hands.

After all, it is a question of money with these fellows, and I have the British Treasury behind me.

If it is on the market—' I'll buy it, if it means another penny on the income tax.

It is inconceivable that the fellow might hold it back to see what bids come from this side before he tries his luck on the other.

And part of the problem is that people are always in a rush.

There is a movement called Women in Finance, which is driven by Her Majesty's Treasury.

And there's about 400 firms have signed up to it to increase female representation at senior levels, which is fine.

And it's been moving over the last 10 years by about 1% increase per annum, which seems vaguely sensible.